• image

Smith and Sons, LLC

Industry: General Contractors

Address: 1801 Clydesdale Pl NW, Washington, DC 20009

Website:  www.smithandsonsllc.com

Since 1984 Smith & Sons, a general contracting firm, has been providing plumbing and utility

services for commercial, residential and governmental clients alike.

But in 2009, Michael Smith, principal and owner of Smith & Sons went to Wacif after being

turned down by traditional lenders.

Though Wacif initially declined Smith & Sons’ loan application, the community lender worked

with Smith to help him secure a contract and to strengthen the firm’s financial management

practices.

After Smith won an important contract he reapplied to Wacif which extended him a $25,000 line

of credit. Months later, Smith won an even larger contract that required more financing. With

Wacif’s help Smith was able to obtain an additional $35,000 from another community

development loan fund.  Over the years, Smith got $100,000 in funding from Wacif.

“When no other money source would give us an opportunity, Wacif said ‘yes.” We were given

hope again, and for that we are deeply appreciative,” Smith said.

With Wacif’s helping hand, Smith’s firm has seen rapid growth: The 32­year­old firm has seen a

100 percent increase in revenues. In fact, to aid him in serving his clients, Smith hired two full-
time employees who are residents of the District of Columbia.

Meanwhile, as Smith continues to run his business, he also volunteers his time helping other

Wacif clients at the community lender’s technical assistance seminars, workshops and

meetings.

“My company is the poster­child for the challenges that small businesses have faced in these

difficult economic times,” Smith said. “It was the partnership of the Wacif and the Government of

the District of Columbia that snatched Smith & Sons out of the jaws of total economic disaster.”