DSLBD and the DC Department of Insurance, Securities and Banking (DISB) recently announced the launch of an exciting new tool that will help small businesses gain access to capital in order to grow their business. DC Capital Connector, the new online portal within the District Government, connects small businesses with lenders and surety bonding companies and provides real opportunities for businesses to connect with lenders who are committed to helping them find the right funding.
With the click of a button, individuals who have signed up and completed a lending survey will be matched to lenders and bonding companies that can assist with that small business owner's unique funding needs.
DSLBD and DISB partnered with a CBE, Invest Sou Sou, local Community Development Financial Institutions (CDFIs) City First Enterprises, Wacif, Life Asset and the Latino Economic Development Corporation, and Construction Bonds Inc., an SBA Authorized Bond Agent, to launch the online small business tool. Additional lenders and surety bond agents are currently being onboarded.
The launch of the online tool was coupled with the celebration of the distribution of more than $1.7 million in microloans to small businesses across the District in FY19. DSLBD and local CDFIs Wacif, Life Asset and LEDC leveraged $200,000 of District funds to provide the loans for more than 380 businesses. These loans contributed to the retainage or creation of more than 310 jobs in the District in FY19!
View the DC Capital Connector demo.
Sign up and visit DCCapitalConnector.com