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Two District government agencies — the Department of Small and Local Business Development (DSLBD) and the Department of Insurance, Securities and Banking (DISB) — announced on Jan. 8 the launch of DC Capital Connector, a new online portal within the city government that will connect small businesses with lenders and surety bonding companies.
“Sometimes access to capital can make or break a small business, and we are incredibly proud to be able to offer this unique tool to better serve the small business community in the District,” DSLBD Director Kristi C. Whitfield said at the Busboys and Poets restaurant in the Northeast neighborhood of Brookland, where her agency’s access to capital conference took place. “The DC Capital Connector will provide real opportunities for businesses to connect with lenders and bonding companies who are committed to helping them find the right funding, which will greatly improve their chance for success and prosperity within our great city.”
DSLBD and DISB partnered with Life Asset, a community development financial institution, and the Latino Economic Development Center, as well as two other local companies, Construction Bonds Inc. and Invest Sou Sou, to launch the online small business tool.
Stephen C. Taylor, the commissioner for DISB, said his agency looks forward to working with the portal.
“DISB is pleased to be a part of the mayor’s efforts to connect small business with vital financial resources,” Taylor said. “Providing critical capital helps small businesses by facilitating private lending and investments.”