Smith and Sons, LLC
Industry: General Contractors
Address: 1801 Clydesdale Pl NW, Washington, DC 20009
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
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
“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.”