Michael Bing is a highly experienced economic development practitioner and small business growth strategist, making him a key asset at the Department of Small and Local Business Development (DSLBD) where he serves as Small Business Development Manager. Michael has more than 15 years of experience leading teams and producing results for the business community, offering expertise in the areas of community development, capital access and business growth strategies. Since joining DSLBD in 2017, Michael has created access to capital by developing a loan loss reserve program that leveraged $200,000 into $1.5 million in small business loans for DC-based businesses, advocated for CBEs that led to the DC Power Line Undergrounding solicitation to be a 100% CBE aside and connected CBEs to contract opportunities by hosting numerous matchmaking events with decision makers in procurement.
Prior to joining DSLBD, Michael was the director of the Washington, DC MBDA Business Center, a cooperative agreement with the Department of Commerce’s Minority Business Development Agency. Michael’s efforts during his tenure with the MBDA Business Center led to the securing of $178 million in contracts, which also resulted in the creation of 222 jobs. Additionally, Michael led the efforts to help secure more than $1.3 billion in contracts and $12 million in financing for the agency’s clients.
Michael also served as the director of The Enterprise Center Capital Corporation (TEC-CC), a Community Development Financial Institution and U.S. Small Business Administration Micro Loan Intermediary that focused on minority and women-owned businesses. As director, Michael was essential to growing the Philadelphia-based organization from a defunct community-based lender to the second largest micro-lender by loan volume in Eastern Pennsylvania.
Michael attended Chestnut Hill College and is a subject matter expert and reviewer for the U.S. Department of Treasury CDFI Fund program, New Market Tax Credit program, Office of Refugee Resettlement Ethnic Community Self Help program and the Microenterprise Development Program. Michael currently resides in the Trinidad neighborhood of Washington, DC and is passionate about helping people achieve their dreams through entrepreneurial pursuits.