What it is

The Washington Area Community Investment Fund (WACIF) has served entrepreneurs in the Greater Washington area since 1987. Its mission is to increase equity and economic opportunity in underserved DC-area communities by investing knowledge, social and financial capital in entrepreneurs. It combines lending with advising, business centers and targeted initiatives, and focuses on low- and moderate-income entrepreneurs.

What it offers founders

WACIF's loan programs include Term Loans, the Green Growth Fund, which pairs financing with bonus grants for environmental impact, and the Resilient Growth Fund. Published terms on its application page:

  • Loan amounts from $10,000 to $250,000, with terms of 3 to 6 years.
  • Fixed interest rates that vary by program and borrower profile, and no prepayment penalties.
  • Fees that may include an origination fee of up to 3% and a $50 application fee.
  • A character-based review that weighs business potential, community impact and repayment plans, with referrals to coaching for applicants who are not yet loan ready.

Beyond lending, WACIF runs the Capitol Region Women's Business Center, part of the SBA Women's Business Center network, offering one-on-one counseling, training, workshops and mentoring. Signature initiatives include Ascend for growth strategy, Certified Up for business certifications with coaching, and the Sustainable DC Project. Its business centers also include The HIVE and the Office of Women's Initiatives.

Who it is for

Loans are for businesses that have operated at least one year and earned at least $50,000 in revenue in the previous fiscal year. The service area covers the District of Columbia; Montgomery and Prince George's counties in Maryland; and Arlington County, Fairfax County, the City of Alexandria and the City of Fairfax in Virginia. It is a fit for operating small businesses and women entrepreneurs rather than pre-revenue startups seeking equity.

How to engage

Start with the short form on the Become a WACIF Client page; an in-house small business advisor follows up to set consultation goals. A prequalifying assessment checks loan eligibility before applying. The loan process moves through pre-screening, document collection, underwriting, committee review and closing, and typically takes 3 to 6 weeks. Applicants submit two years of personal and business tax returns, a personal financial statement, interim financials, bank statements and formation documents. WACIF is located at 2012 Rhode Island Ave NE, Washington, DC 20018, phone (202) 529-5505. See the How to Apply page for details.

Why it matters in the DMV ecosystem

WACIF has lent to Greater Washington entrepreneurs since 1987 and took over the region's SBA Women's Business Center in 2024. Its mix of capital, advising and post-loan technical assistance gives Main Street and growing small businesses a path to financing that banks may not offer.