As part of the District’s coronavirus (COVID-19) recovery efforts, the Legacy Business Supplemental Funding will designate approximately $3.25 million of remaining funds from the Small Business Recovery Microgrants Program to support businesses that have been operating in the District for at least 20 years. This effort is being led by the Office of the Deputy Mayor for Planning and Economic Development (DMPED).
Which businesses are eligible?
- Previous Small Business Recovery Microgrant awardees that in operation for at least 20 years as of March 2020.
- These businesses have successfully collected their Small Business Recovery Microgrant award and have complied with all reporting requirements to date.
- These businesses are not classified as self-employed individuals or independent contractors.
Why are there remaining funds from the Small Business Recovery Microgrant Program?
To date, the program has supported over 7,000 District-based small business and nonprofits. Through the microgrant notification process, we found that some businesses were ineligible or decided to not accept the funds. Some returned the funds to be used by businesses in greater need. This created a pool of funds that we could use to further support businesses with supplemental microgrants.
What can funds be used for?
- Wages and benefits, accounts payable, fixed costs, inventory, rent, and utilities.
How to apply?
- No application is needed to receive funds.
- Previous Small Business Recovery Microgrant awardees that meet the eligibility qualifications will be contacted.
All eligible legacy small businesses and nonprofits have been notified by DMPED with conditional award letters via email on Friday, October 23.
Questions? Contact [email protected].
When will funds go out?
Upon completion of the awardee information form, receipt of documents, and signed grant agreement.
CDFI’s that will help disburse the remaining funds:
- The Washington Area Community Investment Fund (WACIF), City First Enterprises (CFE), Life Asset, Industrial Bank, Latino Economic Development Center (LEDC).