Small Medium Business Growth Fund (DMPED)

Application is open for the Small-Medium Business Growth Fund (DMPED). Various existing and new grant programs will be available through the DMPED cluster in the fiscal year 2022 to support economic recovery by providing support to businesses and entrepreneurs. Program details will be added here as they become available. The Inclusive Innovation Equity Impact Fund supports District-based equity impact enterprises or businesses eligible to be equity impact enterprises with training and investment in the form of revenue or equity-based financing. An equity impact enterprise is a DC resident-owned, a small business that is at least 51% owned by an individual who is, or a majority number of individuals who are, economically disadvantaged or have been subjected to racial or ethnic prejudice or cultural bias.

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Eligibility

The District has teamed up with SMBX, a financial marketplace that connects small business owners with everyday investors, to offer the Rebuild Bond Program for small businesses in D.C. to raise capital from their community. Through the Rebuild Bond Program, for a limited time, small businesses can apply to issue Small Business Bonds™ with no origination fees. By issuing a Small Business Bond™, you can borrow capital from existing customers at competitive rates, retain your equity, and increase customer loyalty. All businesses are encouraged to apply, especially those from communities that have historically been denied access to capital or which reside in Wards 5, 7, or 8.

Benefits

Mayor Bowser and the Office of the Deputy Mayor for Planning & Economic Development are investing $5.4 million in the Small Medium Business Growth Fund, a program that will offer grants aimed to retain and expand district-based small businesses by supporting large scale capital improvements, large equipment purchasing, and technological advancements within retail, professional services, industrial-based businesses, manufacturing industries.

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Application process

• View Request for Application here.
• A virtual information session will be offered on Wednesday, April 27th from 4 pm – 6 pm. Info Session Registration here.
• Additional information can be found here.

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