By Andrea Stevens
AFRO Staff Writer
astevens@afro.com
Mayor Muriel Bowser announced that funds are now available for Washington, D.C.-based small businesses through the District Capitalized Revolving Fund Program. The program 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 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 D.C.,” Bowser said. “Local businesses invest in D.C., they create jobs for D.C. residents, they bring in tax dollars that fund our city services. Our Growth Agenda is about making it easier to do business in D.C. 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 D.C. 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 credit-building support and funding-readiness guidance to help business owners strengthen their credit history and long-term economic stability. Because it is a revolving fund where repayments 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 D.C. 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 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 applications for micro-lines of credit now through Dec. 12, 2025. Eligible small businesses interested in applying can review full program details. To help business owners prepare, DSLBD will host an information session on Nov. 17, at 3 p.m., offering guidance on completing applications and meeting program requirements.
The revolving fund supports Bowser’s broader Growth Agenda, which focuses on simplifying business operations in the District and keeping the city competitive through investment in entrepreneurship, innovation and local development.