Mayor Bowser Announces Funds Available Now to Support Small and Local Businesses

(Washington, DC) - Today, Mayor Muriel Bowser announced that funds are now available for District-based small businesses through the District Capitalized Revolving Fund Program, which provides direct financial support to help small businesses grow or stabilize operations through micro-lines of credit and small business loans. Managed by local community development financial institution (CDFI) fund partners competitively selected by the Department of Small and Local Business Development (DSLBD), EatsPlace and Life Asset, the fund ensures that more District-based businesses can access the working capital they need to expand, hire and thrive.

"We know that our small and local businesses are critical to the vibrancy of our city - they represent the real DC," said Mayor Bowser. "Local businesses invest in DC, they create jobs for DC residents, they bring in tax dollars that fund our city services. Our Growth Agenda is about making it easier to do business in DC, and part of that work is getting local entrepreneurs connected to opportunities like this one."

The District Capitalized Revolving Fund Program is designed to make capital more accessible to DC entrepreneurs, especially those who may not qualify for traditional bank financing. Through this fund, eligible small businesses can apply for micro-lines of credit at affordable rates for short-term working capital up to $10,000 to support equipment purchases, payroll, marketing, or other operational expenses. The program also provides business credit-building support and funding-readiness guidance to help business owners strengthen their credit history and long-term economic stability. And because it is a revolving fund where repayments from loans are reinvested to issue new loans, the program is a self-sustaining tool to invest in and support local businesses.

"Through this revolving fund, we're creating a sustainable way to get more dollars into the hands of DC entrepreneurs, particularly those who have historically been left out of traditional lending opportunities," said Rosemary Suggs-Evans, Director of DSLBD. "This is how we grow together, by keeping our investment local and building stronger businesses across all eight wards."

Eligible applicants to the District Capitalized Revolving Fund Program must be District-based small businesses that are actively licensed and operating within the District of Columbia, have a business bank account, and face barriers to accessing lines of credit and other financing with traditional funders.

Fund managers are accepting micro-line of credit applications now through December 12, 2025. DC-based small businesses interested in applying can review full program details, confirm eligibility, and complete their application by visiting dslbd.dc.gov/DistrictCapitalizedRevolvingFund.

To help business owners prepare, DSLBD will host information sessions on Thursday, November 13 at 6 pm. and Monday, November 17 at 3 pm. During these sessions, DSLBD staff will walk participants through program guidelines and required materials and will offer practical tips for submitting a strong application. Those interested can register at dslbd.dc.gov/DistrictCapitalizedRevolvingFund.

Mayor Bowser's transformative Growth Agenda for Washington, DC is focused on making it easier to do business in Washington, DC and keeping the city competitive in business attraction and retention. With tech incubators, grants for businesses moving to or growing their operations in DC, funds like the District Capitalized Revolving Fund Program, and bold investments like the deal to bring the Commanders home and build a stadium, housing, retail, entertainment and more on the RFK campus, the Mayor is working to ensure DC remains a great place to live, work and do business.