Greater Washington, D.C. Entrepreneurs of Color Fund

  • The Greater Washington, D.C. Entrepreneurs of Color fund is a $6.65 million effort to forge new pathways to entrepreneurship and wealth building in the region’s underserved communities. Based on a model successfully launched by JPMorgan Chase in Detroit, Chicago, San Francisco, and the South Bronx, the Fund is a partnership between JPMorgan Chase, Capital Impact Partners, the A. James and Alice B. Clark Foundation,  the Latino Economic Development Center (LEDC), Harbor Bank, and Wacif. The Fund will pair low-cost capital with business advisory services, with a focus on preserving and growing minority-owned business in commercial corridors, cultivating a new generation of minority housing developers, and driving procurement opportunities with Washington-region anchor institutions. Click here to begin a conversation with Wacif about accessing Entrepreneurs of Color Fund resources.

  • Wacif has placed equity at the center of our work. In 2018, 100% of our lending went to entrepreneurs of color, and entrepreneurs of color make up over 80% of the borrowers in our portfolio. The Greater Washington, D.C. Entrepreneurs of Color Fund will advance our efforts to deepen inclusive entrepreneurship, and provide small businesses with the capital to seize opportunity and accelerate growth in the Washington, D.C. and Baltimore regions. The Washington area economy is the fifth largest in the country, but between 2006 and 2016, the number of business loans less than $100,000 decreased by 48%, representing a $351 million regional loan loss.

    Meeting this moment requires growing our impact. In 2018, we increased our loan volume by 60% and more than doubled the number of businesses served with advisory services. Strategic partnerships like the Greater Washington, D.C. Entrepreneurs of Color Fund are needed to drive our momentum. To become a partner in this work, reach out to our team at info@wacif.org.