Washington Area Community Investment Fund Inc.

“The organization reviews form 990 at the staff level first, then at the board level, makes change recommendations if necessary, and then approves submission.”

“The Organization has a self-reporting policy on conflicts of interest. The Organization ensures that all board and staff sign the conflict of interest policy upon commencing a relationship with WACIF. The Organization can remove a member of the board or staff if a clear conflict of interest is present.”

“Wacif's governing documents, conflict of interest policies, and financial statements are made available to the public by request.”

“WACIF provides much needed access to capital and specialized technical assistance for small businesses, child care centers, affordable housing developers and community serving organizations.”

“WACIF'S SMALL BUSINESS COUNSELING EMPOWERS VERY-LOW-TO-MODERATE INCOME ENTREPRENEURS TO TAKE CONTROL OF THEIR BUSINESS TO CREATE STRONG AND SUSTAINABLE LOCAL ENTERPRISES THAT ARE VITAL FOR GROWING ECONOMIES AND HEALTHY COMMUNITIES. In 2015, Wacif provided assistance to 443 small businesses and nonprofit organizations through Entrepreneurial Training and one-on-one counseling. Wacif conducted 24 capacity building business courses, performed over 40 Financial Needs Assessments for in-depth analysis of client financial data.”

“From Micro-Loan programs upwards to $300,000, WACIFs various lending programs bridge the financing gap for underserved communities graduating to traditional lenders, while creating economic opportunity. Access to Capital: Wacif manages over $7,000,000 in a number of loan funds to match the right capital source to a small business owners specific need. Wacifs 2015 portfolio sustains 346 jobs and is 75% comprised of businesses that are Women or Minority-Owned. Access to Capital Loan Fund: Wacifs Access to Capital Loan Fund (ACLF) is the organizations historical source for community development financing and its most flexible. The ACLF remains a community asset which began with and has been sustained for over 28 years by individual and institutional, socially-responsible investors seeking positive financial and social returns from their investment. Currently comprised of 55 institutional and individual investors holding over 75 investments, the ACLF boasts a 95% portfolio performance rate and a 100% investor repayment rate. In 2015, Wacifs ACLF provided access to capital for 18 low-moderate income entrepreneurs totaling $1,600,000. Streetscape Relief Loan Fund: Wacif administers the Streetscape Relief Loan Fund (SRLF) for the DC Department of Small and Local Business Development. SRLF is a revolving loan fund and Public-Private Partnership between Wacif and the District of Columbia that infuses capital into business corridors throughout the city. Wacif provides 0% interest loans to established small business owners to alleviate the negative financial effects associated with streetscape construction which among other things, temporarily removes parking and or sidewalk access to the business. This flexible source of financing helps business owners bridge the financial gap until construction is completed and customers can again easily access their establishment. Since its inception Wacifs Streetscape Relief Loan Fund has lent to 26 business owners totaling over $1,975,000 in neighborhoods throughout DC. Micro-Loan Funds: Wacifs micro-loan programs support small businesses along the continuum of financing towards larger and traditional bank lending, offering entrepreneurs capital between $10,000 and $50,000. These micro-loans are paired with on-going post-loan closing business counseling. In 2015, Wacifs $1,150,000 Small Business Administration (SBA) Micro Loan Fund closed 7 loans totaling $321,000. In 2015, Wacif closed 26 loans totaling over $1,700,000 to local small businesses, community organizations and childcare centers which helped our loan clients create and preserve 108 jobs for local residents.”