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District of Columbia Collateral Support Program

The District of Columbia Collateral Support Program is part of the US Treasury’s State Small Business Credit Initiative created by the Small Business Jobs Act of 2010. The Treasury has allocated $1.5 billion nationally to create or expand small businesses, with $13.2 million for District businesses. The Department of Insurance, Securities and Banking will use the money for several small business finance programs. The DC Collateral Support Program is the first.

The program provides capital to small businesses with insufficient collateral for a loan by depositing cash collateral with lenders (bank, credit union or community development financial institution), who in turn, loan to these businesses. Creditworthy small businesses can use these loans to buy equipment and inventory; for expansions or renovations; working capital; start-up costs; leasehold improvements; or refinancing. By leveraging the capital of private lenders, the program makes more capital available to District small businesses.

Contact your banker about the program.

Financial Institutions Participating in the DCCSP

Participating Lender Address Website Telephone Number
Amalgamated Bank 1825 K St., NW, Washington, DC 20006 amalgamatedbank.com (202) 721-0762
Cardinal Bank 1776 K St., NW, Washington, DC 20006 cardinalbank.com (202) 331-3957
City First Bank of DC 1432 U St., NW,  Washington, DC 20009 cityfirstbank.com (202) 243-7113
Colombo Bank 1600 East Gude Drive, Rockville, MD 20850 ColomboBank.com (240) 223-1028
Eagle Bank 1425 K St., NW, Washington, DC 20005 eaglebank.corp.com (301) 986-1800
ECDC Enterprise Development Group 901 S. Highland St., Arlington, VA 22204 www.entdevgroup.org (703) 685-0510
Industrial Bank 4812 Georgia Ave., NW, Washington, DC 20011 industrial-bank.com (202) 722-2000
Navy Federal Credit Union Washington Navy Yard, 9th and M St., SE, Bldg. 218, Ground Floor, Washington, DC 20374 navyfederal.org 1(888) 842-6328
Revere Bank 820 West Diamond Ave., Suite 110, Gaithersburg, MD 20878  reverebank.com 1(866) 950-5784
United Bank 1875 Eye St., NW, Washington, DC 20006 bankwithunited.com (202) 828-6784
Washington Area Community Investment Fund 2012 Rhode Island Ave., NE, Washington, DC 20018 wacif.org (202) 529-5505
Washington First Bank 1025 Connecticut Ave., NW, Washington, DC  20036 wfbi.com (202) 587-7014

For more information on the program, contact Christopher Weaver at (202) 442-7774 or christopher.weaver@dc.gov.