D.C. Councilmember Trayon White Sr. (D-Ward 8) launched Round II of the Ward 8 Community Investment Fund (Ward8CIF) that provides startup and working capital to Ward 8 entrepreneurs, at the Sycamore & Oak retail village on the campus of St. Elizabeths East in Southeast’s Congress Heights neighborhood on May 30.
A total of $800 thousand is available through grants and loans, with awards up to $40 thousand announced in July. This round includes a new mini-grant opportunity for youth ages 14-21 who want to grow their business with funding up to $2K.
The Ward8CIF has a mission to close the 81X racial wealth gap in the District by funding entrepreneurs and to foster a vibrant small business economy in Ward 8 as well as to strengthen the ward community through culture building and job creation. Ward 8 businesses receive only 2.3% of all working capital in the District from banks and other financial institutions.
Nonprofits are not eligible for the program. To qualify, possible participants must be a Ward 8 resident-entrepreneurs or business enterprise.
The Ward8CIF is a credit building grant-secured loan program for aspiring or current small business owners. Information sessions and technical assistance are provided.
Ward8CIF partners include White, DC Community Development Consortium, DC Department of Small Local Business Development, LISC DC, Life Asset, Ballard & Spahr, H2DesignBuild and the Ward 8 Arts Collaborative. Go to DCCDC.org to RSVP or apply through June 30.
