FOR IMMEDIATE RELEASE: Monday, June 17, 2019
Brendon Miller, (202) 529-5505 ext. 224
Minnesota Avenue Main Street Launches Small Business Resilience Fund
Grant funding will help small businesses along corridor prosper in place
(Washington, D.C) – The Minnesota Avenue Main Street (MAMS), a program of Washington Area Community Investment Fund (Wacif), today announced the launch of the Minnesota Avenue Small Business Resilience Fund. The Fund, supported by the DC Department of Small and Local Business Development (DSLBD), will help small businesses along the Minnesota Avenue corridor adapt their business models and weather disruptions caused by capital infrastructure projects.
“The Minnesota Avenue Small Business Resilience Fund reflects our commitment to help entrepreneurs prosper in place and equitably enjoy the benefits of the District’s economic momentum,” said Wacif Executive Director Harold Pettigrew. “We thank DSLBD for making these needed resources available through the Minnesota Avenue Main Street Program.”
Click here to apply for a Minnesota Avenue Small Business Resilience Fund grant. Grant funds can be used for working capital to help existing businesses adapt their business model and meet changing customer demand. Funds can also be used to help small businesses (including stores and restaurants) disrupted by or experiencing significant financial losses resulting from a District-financed capital infrastructure project of District-owned property, like the current Minnesota Avenue streetscape project.
MAMS intends to fund a total of $40,000 in grants, with awards of up to $10,000 per small business. Applications will be accepted and reviewed on a rolling basis until the funding is exhausted. To be eligible for this award, small businesses must:
- Be a business located in the Minnesota Avenue Main Street boundary,
- Be in Good Standing with the District of Columbia,
- Be a small, DC-based for-profit retail businesses with an active DC business license for that retail location, and
- Have Clean Hands, a DUNS number, and active general liability insurance.
Applications will be reviewed on a rolling basis through July 30, 2019. Incomplete or late applications WILL NOT BE REVIEWED OR ACCEPTED. MAMS reserves the right to consider, approve, decline and/or fund, in whole or part, any grant applications.
Wacif is recruiting a full-time Minnesota Avenue Main Street Program Manager. If you’re passionate about driving inclusive entrepreneurship, equitable economic development, and community wealth building on the District’s second longest commercial corridor east of the Anacostia River, please follow this link to apply.
About the Minnesota Avenue Main Street Program
Minnesota Avenue Main Street, a Downtown Ward 7 initiative, was designed in 2017 and is operated by the Washington Area Community Investment Fund (Wacif). Minnesota Avenue Main Street aims to: revitalize the commercial corridor of Minnesota Ave NE and Benning Road NE, enhance the commercial district through clean teams and streetscape improvement, and promote the neighborhood, individuals business owners, and entrepreneurs. Learn more at www.wacif.org/minnesota-ave.
About the Washington Area Community Investment Fund (Wacif)
The Washington Area Community Investment Fund, Inc. (Wacif) is one of the Washington, D.C. metropolitan area’s leading Community Development Financial Institutions (CDFI) focused on small business development. Wacif’s mission is to increase equity and economic opportunity in underserved communities in the Washington, D.C. area by investing knowledge, social, and financial capital in low-and moderate-income entrepreneurs. In the last seven years, Wacif has closed more than $9.2 million in loans and assisted over 2,000 entrepreneurs with coaching and technical assistance, sustaining more than 300 local jobs. Learn more at www.wacif.org.