District of Columbia Collateral Support Program
The State Small Business Credit Initiative was created by the Small Business Jobs Act of 2010 to provide funds to state programs that increase access to capital for small businesses. As part of the Jobs Act, the US Department of Treasury received $1.5 billion in total credit initiative funding to be allocated to state small business programs. The District of Columbia was allocated $13.2 million, which will be used to fund the District of Columbia Collateral Support Program, also known as DCCSP.
The DCCSP provides a pledged asset or cash collateral account to an enrolled lender in order to enhance the collateral coverage of a small business borrower that is otherwise qualified but unable to meet the lender’s security requirements. The cash collateral account will then be pledged as collateral on behalf of the borrower on a transaction by transaction basis and located at the participating lending institution or at other designated insured depository financial institution in the name of the District of Columbia Collateral Support Program. By leveraging the capital of private lenders, the DCCSP makes more capital available to District small businesses.
- DCCSP Fact Sheet [PDF]
- Loan Enrollment Procedures with Document Checklist [PDF]
- Loan Enrollment Form and Eligibility Questionnaire [DOC]
- Lender Guide [PDF]
- DCCSP Claim Form [PDF]
- DISB Small Business Plan Template [DOC]
For more information on the program, contact IfeanyiChukwu Egbuniwe at (202) 442-8584 or firstname.lastname@example.org.