Small Businesses Programs, Resources and Information
The DC Department of Insurance, Securities and Banking, a regulatory agency for the District of Columbia’s financial services industries, provides and participates in programs and resources to assist small business owners in creating sustainable economic development.
District of Columbia Business Capital Program
The District of Columbia Business Capital Program (DC BizCAP) is funded by the U.S. Treasury State Small Business Credit Initiative (Initiative). The Initiative, a $1.5 billion fund, was established by the Small Business Jobs Act of 2010 to assist small businesses and entrepreneurs who were adversely affected by the economic recession of 2008 and the credit crisis that followed. The District of Columbia was allocated $13.2 million for District businesses. The District of Columbia Department of Insurance, Securities and Banking (DISB) established and administers DC BizCAP to provide capital to District small businesses and entrepreneurs who continue to encounter reductions in the availability of credit and heightened requirements to obtain financing. DC BizCAP provides critical capital through three programs that provide alternatives to traditional commercial financing to facilitate private lending and investments in District small businesses.
DC BizCAP: Collateral Support Program (CSP)
CSP provides the necessary collateral to cover the borrower’s collateral shortfall. CSP’s collateral is drawn down and returned, for use by other businesses, to DISB over the life of the loan.
DC BizCAP: Loan Participation Program (LPP)
LPP provides capital to small businesses by purchasing a portion of loans made by participating lenders or lending alongside them to small businesses. Eligibility for reduced interest is in conjunction with DC BizCAP program support.
DC BizCAP: Innovation Finance Program (IFP)
IFP provides capital for investment in District of Columbia start-ups and emerging companies for alternative financing in two ways: (1) a co-investment with an Innovation Finance Company; or (2) a limited partner investment to the Company, which shall make an investment into the business.
DC BizCAP: Capital Readiness Program (CRP)
CRP provides education and support for District small businesses and entrepreneurs through: (1) the Small Business Academy’s public seminars and trainings; and (2) a 12-week cohort-based program to refine business skills under close mentorship.
Minding Your Business
Minding your Business, Resources for Small Businesses is designed to help you start, sustain, and grow your business. Take advantage of services and plans that will help you face challenges, meet goals, and be profitable.