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
The Collateral Support Program (CSP) provides funds for deposit with a participating lender (i.e. a participating bank, credit union or community development financial institution) to provide the necessary collateral to cover the borrower’s collateral shortfall. The CSP’s collateral is drawn down and returned, for use by other business, to DISB over the life of the loan. Find a list of participating lenders, loan enrollment procedures and forms and more information on the Collateral Support Program.
DC BizCAP – Loan Participation Program
The Loan Participation Program (LPP) provides capital to small businesses by either purchasing a portion of loans made by participating lenders or lending alongside participating lenders to provide direct lending. Participating small businesses are eligible for reduced interest in conjunction with DC BizCAP program support. Find a list of participating lenders, loan enrollment procedures and forms and more information on the Loan Participation Program.
DC BizCAP - Innovation Finance Program
The Innovation Finance Program (IFP) provides capital for investment in District of Columbia start-ups and emerging companies that seek financing alternatives to traditional commercial financing. The IFP provides the capital either (1) through a co-investment with an Innovation Finance Company into the small business; or (2) by investing as a limited partner in an Innovation Finance Company that shall then make an investment into that small business. Find more information on the Innovation Finance Program.
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.