Through the Small Medium Business Growth Fund, Local Small Businesses Are Receiving Grants of Up to $100,000 to Support Capital Improvements, Critical Equipment Purchasing, and Technological Advancements
(Washington, DC) – Today, Mayor Muriel Bowser and Acting Deputy Mayor for Planning and Economic Development (DMPED) Nina Albert announced the second-round awardees that will receive $1.8 million total in funds through the Small Medium Business Growth Fund (SMB Fund) grant program. The SMB Fund aims to retain and expand District-based small businesses by supporting large scale capital improvements, critical equipment purchasing, and technological advancements in experiential retail, fresh food markets, green innovation, health technology, immersive entertainment, incubators, and professional service industries.
“Our Small Medium Business Growth Fund is an important tool for helping local businesses stay and grow in DC,” said Mayor Bowser. “Local businesses keep our neighborhoods vibrant, they employ DC residents, and we are proud to support them in creating new opportunities for our city.”
The round-two awardees of the SMB Fund represent 33 businesses across several industries and include:
- aGro Culture
- Always Smile DC LLC
- And Access Inc
- ATH LLC
- Babyscripts
- Bearden Arts LLC
- Big Bear DC
- Cafe Poulet Limited Liability Company
- Capital Restaurant Resources
- Children’s Choice Pediatric Dentistry and Orthodontics
- Conroy Landscape Architecture, LLC
- Culinary Partnerships LLC
- DC Sustainable Business Center
- Elevate LLC
- Hamiltonian Artists
- KBEC Group Inc.
- Making U Fierce LLC
- Monumental Communication LLC
- Navy Yard Dental
- Precision Wellness
- Procure Ascension
- RK Chocolates LLC
- Set Sports Physical Therapy, PLLC
- Taoti Enterprises, Inc
- TCM & CO LLC
- The MECCA Group, LLC
- The Spice Suite LLC
- Timothy Elder DDS PC
- VAYA Beauty
- Virtual Emerging Technology Solutions (V-ETS), LLC
- VR ZONE DC
- Washington Media Institute
- WellCentric Health Group DC
“Local businesses are the engines of innovation and creativity, and these awards will enable businesses to deliver innovative customer experiences and services that DC residents, workers, and visitors need and enjoy,” said Acting Deputy Mayor for Planning and Economic Development (DMPED) Nina Albert. “These awards are investments in our community and we’re focused on making DC the best place in the nation to start and grow a thriving business.”
Mayor Bowser launched the Small Medium Business Growth Fund in 2022. With today’s announcement, 96 businesses have received nearly $7 million under this program. Previous grant recipients represent a broad range of industries, including local manufacturing, restaurants, retail, technology.
The second round of the SMB Fund is administered by the Washington Area Community Investment Fund (WACIF) and is a competitive grant program that targets new and existing businesses. Eligible businesses for the second round of grant funding included:
- New businesses
- Existing businesses headquartered in the District, which are independently owned and operated
- Businesses in the 7 qualifying categories
- Businesses generating less than $15 million in annual revenue;
- Businesses operating out of a physical space and not from a personal home
- Businesses with 100 or fewer employees
- Businesses with site control (a lease or deed)
- Business owners who have not previously been a recipient of the Great Streets Retail Small Business, Locally Made Manufacturing, Neighborhood Prosperity Fund, or Small Medium Businesses Growth Fund
- Businesses with proof of an active DC-based business license
For more resources and information on additional FY24 funding opportunities, visit obviouslydc.com.
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