Supported by grants from JPMorganChase and the Mastercard Center for Inclusive Growth, the new collaborative effort will strengthen Washington, DC’s small business ecosystem and expand financial health support for underinvested entrepreneurs
Washington, D.C. – March 2026 – The Washington Area Community Investment Fund (WACIF) announced the launch of the Small Business Ecosystem Quarterback Initiative, a new effort designed to strengthen Washington, DC’s small business ecosystem and expand financial health support for entrepreneurs across the District. The initiative is made possible by support from JPMorganChase and the Mastercard Center for Inclusive Growth.
The initiative was announced at WACIF’s annual Cultivate Summit, a gathering of entrepreneurs, industry leaders, and community changemakers focused on fostering innovation, collaboration, and opportunity for local businesses across the DMV region.
For nearly four decades, WACIF has played a central role in supporting entrepreneurs across the Washington, DC region by providing access to capital, technical assistance, and strategic partnerships. Through the Ecosystem Quarterback Initiative, WACIF will build on this legacy by convening entrepreneur support organizations, financial institutions, and community partners to better coordinate services, share insights, and strengthen the overall small business ecosystem serving underinvested communities.
As part of this initiative, WACIF will establish an Ecosystem Coordination Group in partnership with peer Community Development Financial Institutions (CDFIs) and Business Support Organizations (BSOs), including the Coalition, Arlington Biz Launch, and FSC First, amongst others. This network of entrepreneur support organizations will work together to align services, share data, and coordinate support for local entrepreneurs.
“The Small Business Ecosystem Quarterback Initiative is about meeting this moment with the kind of coordination, trust, and shared purpose that our region’s entrepreneurs deserve,” said Shannan Herbert, CEO at WACIF. “By serving as the ‘quarterback’ for this work, WACIF will help strengthen collaboration across the local entrepreneurship ecosystem while equipping our partners with the tools and training needed to provide financial health coaching and technical assistance that supports long-term business stability and growth.”
“Small businesses are the backbone of our economy,” said Nadine Duplessy Kearns, Program Officer at JPMorganChase. “Strengthening small businesses and supporting local entrepreneurs has positive ripple effects throughout the community and helps create more opportunities for Washingtonians to prosper. We look forward to the impact that will be made over the short and long-term through the Small Business Ecosystem Quarterback Initiative.”
The Mastercard Center for Inclusive Growth, through their Mastercard Strive small business program, is supporting the development of new infrastructure designed to improve collaboration, data sharing, and service delivery among organizations that support small businesses in the DMV region. This work will serve as a catalyst that drives greater ecosystem coordination over the long term.
“Many organizations in the DMV region work to support small businesses, but their impact is often less than it could be because they work in isolation,” said Jonathan Fantini-Partner, Senior Vice President for Social Impact in the Americas at the Mastercard Center for Inclusive Growth. “This initiative will be a force multiplier for these organizations, providing them with new coordination infrastructure and access to Mastercard tools and partners that will also help strengthen the broader small business ecosystem.”
The initiative comes at a critical moment for Washington, DC’s small business community. While entrepreneurship remains a key pathway to economic mobility and community wealth building, many entrepreneurs continue to face significant challenges when seeking the financial resources and support necessary to grow their businesses.
These challenges are especially pronounced in communities east of the Anacostia River. According to the Urban Institute, businesses in Ward 8 receive just 2.3% of all working capital distributed in the District, highlighting the urgent need for more coordinated support systems.
As new development and investment continue to reshape neighborhoods east of the Anacostia River, ensuring that longtime residents and local entrepreneurs can participate in—and benefit from—that growth is critical to their long-term success. Strengthening the small business support ecosystem and expanding access to financial health resources will help entrepreneurs in communities like Wards 5, 7, and 8 build sustainable businesses, create local jobs, and prosper in place as the city evolves.
Over the next three years, the Ecosystem Quarterback Initiative will work to strengthen coordination across entrepreneur support organizations and expand access to resources through three core strategies: direct services, systems change, and ecosystem collaboration. These efforts include completing a regional small business landscape analysis, identifying opportunities for new ecosystem offerings, integrating technology, and building a referral system across partners.
The initiative builds upon WACIF’s long-standing commitment to expanding economic opportunity for underinvested entrepreneurs across the region and aligns directly with the organization’s mission to increase equity and economic opportunity by investing knowledge, social capital, and financial resources in low- and moderate-income entrepreneurs.
By strengthening collaboration across the District’s entrepreneurial ecosystem, the initiative will help ensure that small businesses—particularly those in Wards 5, 7, and 8—have the resources and connections needed to prosper in place and participate fully in the city’s economic growth.
About Washington Area Community Investment Fund (WACIF)
Established in 1987, the Washington Area Community Investment Fund’s mission is to increase equity and economic opportunity in underserved communities in the Washington, DC area by investing knowledge, social, and financial capital in low- and moderate-income entrepreneurs. Our mission is driven by three strategic pillars: inclusive entrepreneurship, community wealth building, and equitable economic development, and is fulfilled by providing access to capital products and services, and capacity building technical assistance to low- and moderate-income entrepreneurs. WACIF has been continuously certified as a Community Development Financial Institution (CDFI) since 1996, making the organization one of the nation’s first CDFIs.
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362 billion in stockholders’ equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available atwww.jpmorganchase.com.
About the Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.
For more information about the Cultivate Summit or media partnership opportunities, contact Kaelyn Green, Communications Director at or (202)-964-5875.