The District Capitalized Micro-Line of Credit pilot will award lines of credit up to $10,000 at 6% interest for a 1-year term with the option to renew to qualified DC-based businesses. The pilot will initially focus on these business groups: Made in DC certified, Certified Business Enterprises (CBE), or service businesses in the cleaning, landscaping, childcare, or sustainability industries.
Business lines of credit offer a pool of borrowed funds that business owners can tap any time to help:
- Bridge cash-flow gap between contract awards and payments
- Manufacture products to vend or fulfill a purchase order
- Secure staff, equipment & supplies to meet customer demand
- Build out or upgrade commercial space or vending truck/stand
What are the terms to borrow?
- Line of credit up to $10,000
- 6% interest
- 1-year term with option to renew
- No ($0) application fee
How can borrowed funds be used by a business?
- Bridge cash-flow gap between contract awards and payments
- Manufacture products to vend or fulfill a purchase order
- Secure staff, equipment & supplies to meet customer demand
- Build-out or upgrade commercial space or vending truck/stand
Who may apply?
DC resident that owns a business that has:
- Headquarters in the District of Columbia
- Active business license(s)
- Active incorporation of a for-profit entity
- Clean Hands Certificate compliance
- Less than $50,000 annual revenue (may consider a higher amount)
The applicant is one (1) of the following:
- Made in DC certified
- CBE certified OR
- Service provider in the cleaning, landscaping, childcare, or sustainability industries
To apply for the District Capitalized Micro-Line of Credit, eligible businesses must:
Attend the info session, Complete the online application, and Submit it by 8/3/2023 at 2 PM DST.
To apply and learn more, CLICK HERE