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The final information is subject to the latest release from the following official websites:
Launching a new business in the nation’s capital, Washington, D.C., is an exciting endeavor, and understanding the financial support available is crucial for entrepreneurs. In this guide, we will delve into the entrepreneurial funding landscape in the District of Columbia, explore how these funds can benefit startups, provide insights on the application process, and offer reminders for business owners to manage risks and avoid situations where they may struggle to repay startup funding.
1. Overview of Entrepreneurial Funds in Washington, D.C.
Washington, D.C., recognizes the importance of fostering entrepreneurship and economic growth. Various entrepreneurial funds and financial assistance programs are available to support startups and small businesses. These funds often come in the form of grants, loans, and equity investments.
2. How Entrepreneurial Funds Can Help Your Business
- Seed Capital: Many entrepreneurial funds provide seed capital to help businesses cover initial costs such as equipment, marketing, and hiring.
- Working Capital: Funding assistance supports day-to-day operations, ensuring a smooth start and allowing entrepreneurs to focus on growing their business.
- Technology Adoption: Some funds target businesses looking to adopt new technologies, enhancing their digital capabilities and staying competitive.
- Market Expansion: Funds may assist businesses in expanding their market presence, whether through entering new markets, launching new products, or scaling existing operations.
3. Application Process: Key Considerations
- Eligibility Criteria: Review the eligibility criteria for each funding program. Ensure your business meets the specified requirements before initiating the application process.
- Documentation: Prepare all required documentation thoroughly. This may include a detailed business plan, financial statements, and information about the intended use of funds.
- Legal Compliance: Confirm that your business is in compliance with all relevant regulations and licensing requirements. Non-compliance can jeopardize your eligibility.
4. Risk Management: Navigating Potential Challenges
- Financial Planning: Develop a detailed financial plan that includes how the funds will be utilized and realistic projections of future revenues. This helps manage expectations and reduces the risk of financial strain.
- Market Analysis: Conduct a thorough market analysis to understand potential challenges and opportunities. Knowing your market can help you make informed decisions and mitigate risks.
- Legal Advice: Seek legal counsel to review funding agreements. Understanding the terms and conditions of funding is crucial to avoid unexpected challenges in the future.
5. Repayment Considerations: Avoiding Financial Strain
- Understand Terms: Clearly understand the terms of the funding, whether it’s a loan, grant, or equity investment. Be aware of interest rates, repayment schedules, and any equity stakes involved.
- Realistic Projections: Base your repayment plans on realistic business projections. Avoid overestimating revenue or underestimating expenses to ensure your business can meet its financial obligations.
- Diversify Funding Sources: Consider diversifying your funding sources to reduce dependency on a single channel. Explore additional financing options to complement the support from entrepreneurial funds.
6. Conclusion: Strategic Financing for Business Success
Financing assistance from entrepreneurial funds in Washington, D.C., can be a valuable resource for startups and small businesses. By approaching the application process thoughtfully, managing risks proactively, and having a clear understanding of the terms and conditions, entrepreneurs can leverage these funds to build a strong foundation for business success. Strategic financial management is key to ensuring your business thrives and grows in the vibrant and competitive business landscape of the nation’s capital.
Various existing and new grant programs and procurement opportunities for DC businesses will be available through the DMPED cluster in fiscal year 2023. See below for the calendar and program descriptions. Program details and updates will be added here as they become available.
SPECIAL EVENT RELIEF FUND (DMPED)
Mayor Bowser and the Office of the Deputy Mayor for Planning and Economic Development (DMPED) launched the Special Event Fee Relief Fund, a $1.5 million investment to support events that celebrate the culture of the District of Columbia and support local communities. The Special Event Relief Fund allows organizers of festivals and outdoor special events to apply for financial assistance to cover event expenses. More information is here.
STATUS: OPEN
Opened: October 1, 2023
INCLUSIVE INNOVATION EQUITY IMPACT FUND (DMPED)
The Inclusive Innovation Equity Impact Fund will support businesses eligible to be equity impact enterprises (EIE) with training and investment in the form of revenue or equity-based financing. An equity impact enterprise is a resident-owned, small business that it 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.
View more information and to apply here.
STATUS: OPEN
Opened: October 16, 2023
1863 Ventures administers the funds and is responsible for final decisions on funding. For questions about the application or process, please reach out to Email
VITALITY FUND (DMPED)
The Vitality Fund is a new tool that will enhance DC’s competitiveness in attracting new, high-growth companies to the District by providing grants to employers with 25 or more employees that commit to locating in the Vitality Fund Target Area and hiring and contracting locally.
View more information about the Vitality Fund.
STATUS: OPEN
CREATIVE AND OPEN SPACE MODERNIZATION GRANT (DMPED)
The purpose of the Creative and Open Space Modernization tax rebate is to foster the development of technology-focused businesses in the District, increase the District’s tax base, and create new job opportunities for District residents. Available to qualifying high-technology companies.
STATUS: OPEN
COMMERCIAL PROPERTY ACQUISITION FUND (DMPED)
The Commercial Property Acquisition Fund will provide eligible businesses with down payment assistance of up to $750,000 or 25% of the sale price, whichever is less, for the acquisition of commercial property in the District. This year businesses will need to complete the Commercial Property Acquisition 101 course in order to apply for the Fund.
STATUS: CLOSED
Closed: August 11, 2023 at 5:00 PM ET
Prior to applying for the CPAF grant, a mandatory three-part training program must be completed. To have access to the three-training program, please click here. After submitting your training form, please apply here.
Program Guidance:
For all inquiries related to the Commercial Property Acquisition Fund, contact: Email
NOURISH DC COLLABORATIVE (DMPED & OP)
The Nourish DC Collaborative supports the development of a robust ecosystem of locally-owned small food businesses in communities in the District. Nourish DC Collaborative provides flexible loans, catalytic grants, and targeted technical assistance to emerging and existing locally-owned small food businesses in the District of Columbia, with a preference for businesses located in and owned by residents of neighborhoods identified as having high rates of food insecurity, unemployment and poverty, and/or lower life expectancy.
The third round of Nourish DC grants will provide $400,000 in grants ranging from $10,000 to $50,000. The Keeping It Cool Grant Program, funded by The Morningstar Foundation, will support cold storage infrastructure and equipment needs of food businesses and 501(c)(3) non-profit organizations providing food-related goods and services in the Washington D.C. region.
For more information and to apply visit https://www.capitalimpact.org/programs/nourish-dc-collaborative/.
STATUS: CLOSED
Opened: March 6, 2023
Closing: March 31, 2023
NEIGHBORHOOD PROSPERITY FUND (DMPED)
Neighborhood Prosperity Fund (NPF) incentivizes community development, economic growth, and job creation by leveraging local funds to provide gap financing for projects that attract private investment to distressed communities. Grant funds support architectural and engineering costs, construction costs, tenant improvements, historical preservation building improvements to maintain compliance with applicable laws, development analysis, rent abatement and/or tenant concessions for up to 3 years to stabilize market rent.
STATUS: CLOSED
Opened: January 30, 2023
Closing: March 3, 2023 at 5:00PM ET
LOCALLY MADE MANUFACTURING GRANT (DMPED)
The Locally Made Manufacturing Grant program supports local businesses that are located in a Great Streets corridor that engage in light manufacturing by providing funding for capital or tenant improvements of commercial property with a designated industrial use. This grant is intended to grow the District’s local business economy, bolster manufacturing, and strengthen supply chains within the city.
STATUS: CLOSED
Opened: January 30, 2023
Closing: March 3, 2023 at 5:00PM ET
GREAT STREETS RETAIL SMALL BUSINESS GRANTS (DMPED)
Great Streets is the District’s commercial revitalization initiative designed to support existing small businesses, attract new businesses, increase the District’s tax base, create new job opportunities for District Residents, and transform 13 emerging corridors into thriving and inviting neighborhood centers. Learn more at greatstreets.dc.gov.
STATUS: CLOSED
Opened: January 23, 2023
Closing: March 10, 2023 at 5:00PM ET
2023 FOGGY BOTTOM WEST END FEASIBILITY STUDY GRANT (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that it is accepting applications for the Foggy Bottom West End Feasibility Study Grant for the Fiscal Year 2023. DSLBD will award one service area grant for $100,000 to a qualified nonprofit organization or a Certified Business Enterprise (CBE).
The Grant objectives are to produce a feasibility study addressing the feasibility of a D.C. Main Streets program for a Foggy Bottom and West End commercial corridor. The focus must be on its necessity, practicability, sustainability, viability, benefits, and compatibility with the D.C. Main Streets program. The grant opens on January 9, 2023, and will close on January 30, 2023, at 4:00 PM (EST).
Applicants are encouraged to read the full Request for Application. For more information, click here.
STATUS: CLOSED
Opened: January 9, 2023
Closed: January 30, 2023, 4:00 PM (EST)
Click here to view the NOFA.
Click here to view the RFA. (Updated January 9, 2022)
CBE GREEN GRANT (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that it will begin soliciting applications for the Fiscal Year 2023 CBE Green Equitable Back Office and Marketing Services (CBE Green) Grants starting October 19, 2022. The CBE Green grants are for DSLBD Certified Business Enterprises (CBEs) to provide direct support to small, resident-owned, and disadvantaged CBEs pursuing contracting opportunities with and similar to DC Sustainable Energy Utility (DCSEU) opportunities. DSBLD seeks proposals from CBEs to provide market research, marketing, and back-office (business operations) support to help CBEs achieve success with green energy contracts.
View more information and apply here.
STATUS: CLOSED
Opened: October 19, 2022 8AM EST
Closed: December 2, 2022 2:00PM EST
WE ASPIRE (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that we are now accepting applications for the 2023 WeAspire Training and Pitch Competition. The training program and competition are for DC residents who were previously incarcerated and/or justice involved (parole or probation) and seeking to build or launch their businesses. WeAspire will include a 14-week business training program and through a series of pitch competitions, Aspire participants will be awarded direct financial support for their businesses. Every participant who completes Aspire Pitch will receive $2,000 in pitch awards as well as in-kind contributions such as financial advising, marketing assistance, and mentorship. In partnership with Marshall Heights Community Development Organization, DSLBD intends to allocate up to $10,000 in pitch prize funding for each pitch participant from the $200,000 in available funding.
STATUS: CLOSED
Opened: January 17, 2023
Closed: February 28, 2023 2:00PM
To apply and learn more click here.
FOOD WASTE INNOVATION GRANTS (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that we will be soliciting applications for the FY23 Food Waste Innovation Grants starting on October 24, 2022. These grants will provide support for restaurants, food manufacturers, shared commercial kitchens, and commercial corridors like Main Streets and Business Improvement Districts to minimize their food waste going to landfill and minimize urban rat populations. This will help businesses meet the goals of Sustainable DC and the future requirements of the Zero Waste Omnibus Act while reducing costs in both food purchasing and waste disposal expenses. Eligible applicants are food businesses that are appropriately licensed and with fewer than 25 full-time equivalent (FTE) employees. Nonprofits are also eligible when providing direct support for multiple eligible businesses.
DSLBD intends to award between 10 and 25 grants from the $300,000 available for direct grants.
View more information and apply here.
STATUS: CLOSED
Opened: October 24, 2022 8:00 AM EST
Closed: December 22, 2022 2:00 PM EST
2023 DREAM PITCH PROGRAM (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that we will be accepting applications for the 2023 Dream Pitch Program starting January 23, 2023. The Dream Pitch Program is an 8-week cohort-based training program for microbusinesses in Ward 7 and 8, culminating into the Dream Pitch Competition. The Dream Pitch Competition is an opportunity for participants to pitch their business to a panel of judges, showcasing the knowledge gained through the program resulting in a pitch award between $2000 to $7500.
STATUS: CLOSED
Opened: January 23, 2023
Closed: March 6, 2023, 2:00 PM
To apply and learn more, click here.
ROBUST RETAIL CITYWIDE GRANTS (DSLBD)
The Department of Small and Local Business Development (DSLBD) is excited to announce that we will accept applications for the 2023 Robust Retail Citywide Grants.
The 2023 Robust Retail Citywide grant(s) support existing DC-based retail businesses in maintaining operations and viability during the current small business crisis. DSLBD intends to award up to $5,000 per business to approximately 100 businesses from the $500,000 in available funding for the Fiscal Year 2023.
This grant will be a reimbursement grant awarded via lottery to DC retail businesses that have met all eligibility requirements by the final deadline. Businesses that received a Robust Retail Citywide award in FY2022 are not eligible to apply.
STATUS: CLOSED
Applicants are encouraged to read the full Request for Application. For more information, Click Here.
Opened: February 1, 2023
Deadline: April 10, 2023, 2:00 PM (EST)
CANNABUSINESS ASSISTANCE (DSLBD)
This program will support District residents, particularly returning citizens and veterans, with start-up entrepreneurial resources to enter high barrier-to-entry cannabis industry.
Opening : TBD
NEW YORK AVENUE INFRASTRUCTURE ANALYSIS RFP (OP)
OP will develop a report to identify infrastructure and facility improvements needed to accommodate new housing along New York Ave NE.
STATUS: CLOSED
NORTH CAPITAL CROSSROADS VISION RFP (OP)
OP will develop a North Capitol Crossroads Vision, to include urban design, three-dimensional visualizations, public urban connectivity, land use economics, an economic development strategy, equitable urban planning, and public engagement.
STATUS: CLOSED
FOGGY BOTTOM/WEST END PUBLIC LIFE STUDY RFP (OP)
OP will develop a Foggy Bottom/West End Public Life Study, to include a mobility analysis and community engagement.
STATUS: CLOSED
NANNIE HELEN BURROUGHS CORRIDOR STUDY RFP (OP)
OP will develop a Nannie Helen Burroughs study in Ward 7, to include a public life study, design guidelines, and public space activations.
STATUS: CLOSED
IVY CITY SMALL AREA PLAN RFP (OP)
OP will develop a Small Area Plan in Ivy City, to include a public life study, community engagement, a quality of life assessment, and development of public realm design guidelines.
STATUS: CLOSED
COMMEMORATIVE WORKS TECHNICAL ASSISTANCE RFP (OP)
OP will administer a Commemorative Works Technical Assistance Program for commemoration in the District, to provide design services to District communities, Main Street Organizations, and/or individuals in support of new commemorative works in Wards 4, 5, 7, and 8. OP’s assistance will focus on commemorative works that recognize and honor notable Black Washingtonians, other leaders of color, or events important to BIPOC communities.
STATUS: CLOSED
CENTRAL PROCESSING SITING AND FEASIBILITY STUDY RFP (OP)
OP will develop a study on the feasibility and siting of a centralized food processing facility in Washington, DC.
STATUS: CLOSED
STREETS FOR PEOPLE (OP)
Streets for People will provide grants to Business Improvement Districts (BIDs) to activate public spaces in the Central Washington area. The program aims to catalyze economic recovery and support local businesses by attracting workers, residents, and visitors to a vibrant area of activated blocks, sidewalks, streets, and parks.
Opening: Winter 2023