Washington, DC
Since 2019, EOCF has worked to help D.C. area small businesses access the financing they need to succeed. In a city where African American and Latinx residents make up close to 60% of the population, entrepreneurs of color are a foundation of the local economy. According to a 2019 study, BIPOC businesses in the region employ 400,000 people, creating over 60% of the city’s jobs.
Focused on the future.
Since 2021, the EOCF has provided 30 loans to DC area small businesses, totaling more than $11.5 million in financing for entrepreneurs of color.
Are you a small business in the DC area? Learn more about our lending partners to see which is best suited to support your needs.
Our Partners
EOCF in the DC area is a joint effort of four CDFI lending partners:
Capital Impact Partners has lent over $2.5 billion since 1982, supporting affordable housing, education, and access to healthy foods and more. Capital Impact provides flexible and affordable capital to nonprofits, entrepreneurs, and other organizations working in underestimated markets. Loans are tailored to the communities CIP serves so you can achieve your community development goals while remaining true to their values and vision.
With roots as DC’s first community development bank, City First Enterprises today helps achieve racial, economic, and social equity by providing underinvested communities with access to capital. Through CFE’s small business loans and lines of credit for inventory, equipment and real estate, CFE works to help build a more vibrant DC region. CFE offers small business loans ranging from $20,000 to over $500,000 for commercial real estate acquisition projects.
LEDC draws on over 30 years of experience to provide small business owners financial support and technical assistance. LEDC conducts over 100 workshops a year that cover topics such as licensing and certifications, access to capital, pricing and marketing, Additionally, the organization can help entrepreneurs with one-on-one technical assistance and mentoring. LEDC offers loans from $500 to $250,000 for both qualified startups and established businesses.
Founded in 1987, Washington Area Community Investment Fund (WACIF) started with the goal of driving economic opportunity in underserved neighborhoods in Washington, D.C. The organization offers support through training and lending. WACIF offers microloans and equipment financing between $5,000 and $50,000, working capital term loans with terms up to 72 months, available for $50,000 up to $150,000.
Our Entrepreneurs - HMA Advisors
Harrison Maldonado Associates, Inc. (HMA) is a minority-owned boutique communications firm that works with government agencies, nonprofits and corporations to develop public health information campaigns that reach medically vulnerable populations and communities of color. HMA’s work has focused on issues ranging from HIV to COVID-19. Two years ago, as the COVID-19 crisis impacted communities across the country, HMA drew on its expertise in advertising campaigns to help state health departments quickly and clearly spread information about masking, social distancing, and vaccines.
An EOCF loan provided HMA the capital it needed to adapt to the changing circumstances. With EOCF funding, HMA hired additional subject matter experts and digital content creators to develop new messaging strategies, as well as put forward advance payment to buy air and media time.
“Small and local businesses are not only the backbone of our economy, they are also an opportunity for our residents to participate in DC's prosperity.”- Muriel Bowser, Mayr of Washington, DC |
Our borrowers are putting money to work in a variety of ways:
Paying down debt |
Renovations |
Fulfilling orders |
