MAY 27 | Deadline to apply for Small Medium Business Growth Fund

Mayor Bowser and the Office of the Deputy Mayor for Planning & Economic Development is investing $5.4 million in the Small Medium Business Growth Fund, a program that will offer grants aimed to retain and expand district-based small businesses by supporting large scale capital improvements, large equipment purchasing, and technological advancements within retail, professional services, industrial-based businesses and manufacturing industries.

The Small Medium Business Growth Fund targets:

  • Professional Services (this includes technology/life sciences companies)

  • Industrial-based

  • Manufacturer

  • Retail

  • Small Business Investment Projects (for profit & non-profit*)

  • New businesses and existing businesses

  • Startups participating in a DC accelerator/incubator*

Grants made to small businesses will support funding under four categories. Businesses may apply for funding in one of the following categories:

Retail
Awards up to $50,000 to support capital improvement, purchase of large equipment, and retail expansion. 

Local Manufacturer
Awards up to $100,000 to support capital improvement, purchase of large equipment on commercial property with a designated industrial use. 

Small Business Investment Projects
Awards up to $600,000 to support innovative projects that elevate the development of distressed and emerging neighborhoods throughout the district. Note: the project must be delivered within a 12-month timeline.

Technology Advancement 
Awards up to $200,000 to support technology advancements like automation, AI, Machine Learning, VR, robotic process automations, augmented reality, systems upgrades and processes that allow businesses to scale.

STATUS: OPEN

Opening: Friday, April 22, 2022
Closing: Friday, May 27, 2022 at 4:00 PM EST

More information:


Information Sessions Register Here

  • VIRTUAL SESSIONS

  • Session 2 VIRTUAL May 3 (12- 1 pm)

    1. Session 3 VIRTUAL May 10 (12- 1 pm)

    2. Session 4 VIRTUAL May 17 (12- 1 pm)

  • IN-PERSON SESSIONS

  • May 5- Location: 3200 MLK Jr Ave SE (10 am- 12 pm)

    1. May 19- Location: MHCDO, 3939 Benning RD NE (1- 2 pm)

Attachment(s):

Small Medium Business Growth Fund - one pager - 149.9 KB (pdf)

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