Washington, D.C., September 18 2024 – The Washington Area Community Investment Fund (Wacif) received a $3.6 million grant from the Greater Washington Community Foundation Health Equity Fund to launch its Sustainable DC Project in partnership with Coalition for Nonprofit Housing & Economic Development (CNHED). The award marks Wacif’s largest grant to date. The three-year funding will enable Wacif to spearhead initiatives aimed at unleashing the power of the green economy for communities of color in the District of Columbia.
What is Sustainable DC?
Sustainable DC Project is an innovative and disruptive economic mobility strategy designed to help BIPOC and women-owned small businesses grow and build resilience by implementing sustainable practices.
“It’s not enough to invest in green energy. We need to ensure that small businesses – especially those owned by women and communities of color – are set up for success, by providing them the resources, the knowledge, and the opportunities they need to thrive,” expressed Shannan Herbert, Chief Executive Officer of Wacif.
Through the Sustainable DC Project, Wacif and CNHED will advise small businesses on capacity building, support green certification and procurement, and provide access to capital including Wards 5, 7 and 8. The range of services includes:
- One-on-one and group advisory services: One-on-one business counseling will ensure that business owners get personalized strategies to identify opportunities for sustainability or greenhouse gas reduction. Group sessions will elevate priority issues and maximize the inclusion of entrepreneurs.
- Small business cohort learning: The Anacostia Arts Center will house entrepreneurs and provide a place where they can engage in peer mentoring.
- Green certification and procurement support: Expert partnership to access, navigate green certifications, and link to anchor institutions necessary to build positioning in green entrepreneurship.
- Capital: Wacif will develop and deploy financial products (loans and grants) aligned with the goals of ensuring regional small businesses can implement sustainable practices and pivot to green products/industries to grow and increase their competitive edge to access procurement and other business growth opportunities and investments.
Our Commitment To Sustainability
Wacif and CNHED’s partnership leverages decades of experience driving economic mobility and improving social and structural determinants of health around poverty, housing, and built environments – this project wields the strength of both organizations to increase wealth and health equity and support sustainable outcomes in DC’s underinvested communities.
“We see a vibrant future in growing small businesses while ensuring environmental sustainability,” said Wacif Chief Development Officer Megan Carras. “Wacif will continue to seek opportunities to assist green entrepreneurs with reducing greenhouse gas emissions, building climate resilience and growing a green economy by offering readiness programming and capital assistance.”
Wacif’s mission is driven by three strategic pillars: inclusive entrepreneurship, community wealth building, and equitable economic development.
About 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.
For more information about Wacif and its programs, please contact:
Kaelyn Green
Senior Communications Manager