[ad_1]
Sign up to stay connected
Get the top stories of the day around the DMV.
D.C. Mayor Muriel Bowser announced Monday that an additional $2 million is being made available for the next round of the Small Medium Business Growth Fund.
The funding aims to retain and expand District-based small firms by supporting large-scale capital improvements, critical equipment purchasing, and technological advancements in experimental retail, green innovation, health technology, immersive entertainment, incubators (outdoor fresh food markets in Wards 5, 7 and 8), and professional service industries.
Grants of up to $100,000 will be awarded to eligible businesses. The fund will be administered by the Washington Area Community Investment Fund.
“We launched the Small Medium Business Growth Fund as another way to show local businesses that we have their backs—that we are here to help them grow and innovate,” Bowser said. “Small and local businesses are the backbone of our economy—they create opportunity, hire D.C. residents, and keep our neighborhoods vibrant. When we invest in our small businesses, we’re investing in our community and in D.C.’s comeback.”
Criteria for the grant include firms generating less than $15 million in annual revenue, must operate out of physical space, must not have more than 100 employees, must have site control (a lease or deed), not being a previous recipient of the Great Street Retail, Locally Made Manufacturing, Neighborhood Prosperity, or Small Medium Business Growth Funds and have an active District business license.
The application for the Small Medium Business Growth Fund is open and will close on July 21 at 6 p.m. On Wednesday, the D.C. Department of Planning and Economic Development and WACIF will hold an information session on the fund at Sycamore & Oak on the St. Elizabeths East Campus in Ward 8 in Southeast.
[ad_2]
Source link