Washington Area Community Investment Fund

What Washington Area Community Investment Fund does

Washington Area Community Investment Fund (WACIF) is a nonprofit Community Development Financial Institution (CDFI) founded in 1987 and headquartered at 2012 Rhode Island Ave NE in Washington, DC. The organization provides capital, business advisory, and technical assistance to low- and moderate-income entrepreneurs across the Greater Washington DC region, with particular emphasis on women entrepreneurs, entrepreneurs of color, creative small businesses, and firms located in underserved wards east of the Anacostia River (Wards 5, 7, and 8, where Ward 8 receives only ~2.3% of the District's working capital per the Urban Institute). Since receiving continuous CDFI certification from the U.S. Department of the Treasury in 1996, WACIF has operated three core loan products - Term Loans, a Green Growth Fund, and a Resilient Growth Fund - complemented by signature capacity-building initiatives: the Ascend Capital Accelerator, Ascend Beauty, Certified Up, Sustainable DC Project, Creators Academy, Digital Refresh, Seed to Storefront, the Pivot Project, and the Small Business Ecosystem Quarterback Initiative. WACIF also owns and operates two physical business centers: the Anacostia Arts Center (acquired 2021, undergoing multi-sponsor renovation for a February 2027 reopening) and The HIVE (acquired 2021), plus two program offices - the Office of Women's Initiatives and the Capitol Region Women's Business Center.

WACIF generates revenue from two primary streams: loan interest and fees on its small business lending book, and grant/philanthropic funding from institutional partners including JPMorganChase, Mastercard Center for Inclusive Growth, Wells Fargo Foundation, Capital One, Bank of America, Truist, Meyer Foundation, A. James & Alice B. Clark Foundation, Surdna Foundation, the U.S. Department of Housing and Urban Development, and the DC Commission of the Arts and Humanities. The organization deploys capital at mission-aligned terms rather than market-rate pricing, with concrete impact metrics including $10M+ in capital and grant funding awarded to program participants and 3,000+ businesses supported cumulatively. Recent grant awards - approximately $1M from Capital One (2025) for the Pivot Project with the Latino Economic Development Center and $500K from Wells Fargo Foundation (2026) for Seed to Storefront - reflect a strategy of diversifying both funding partners and programmatic verticals.

WACIF has no proprietary technology platform and operates a traditional CDFI model centered on direct lending, one-on-one advising, and physical community infrastructure. The organization runs on staff of approximately 30 employees, structured across leadership, programs, lending, finance, operations, and the Anacostia Arts Center teams; CEO Shannan Herbert previously served as EVP and Chief Credit Officer at City First Bank and EVP of Inclusive Credit at Stratyfy. Recent moves (March 2026 ecosystem launch, Seed to Storefront pilot, the 2025 Pivot Project, board expansion for 2026, and the AAC renovation) signal a deliberate pivot from lender-only to ecosystem quarterback across the DC small business support landscape.

Name

Washington Area Community Investment Fund

Legal name

Washington Area Community Investment Fund

Website

https://wacif.org

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

WACIF is a Washington, DC-based nonprofit Community Development Financial Institution, founded 1987, providing term loans, technical assistance, and accelerator programs to low- and moderate-income entrepreneurs across the Greater Washington DC region.

Ownership category

akta.pro rank

Product category

Community Development Financial Services

NAICS

Business Support Services (5614), Civic and Social Organizations (813410)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

akta.pro secondary industry

National/Regional Development Finance Institutions (DFIs) (FSABAKAB)

Keywords

• Community development finance
• Small business lending
• Entrepreneur support services
• Business advisory services
• CDFI loan programs

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Loan Interest and Fees: WACIF generates revenue through interest on term loans and other lending products extended to small businesses. Revenue also includes fees associated with loan servicing and credit products.
2. Grants and Philanthropic Funding: WACIF receives grant funding from corporate partners (JPMorganChase, Capital One, Wells Fargo Foundation, Mastercard Center for Inclusive Growth), foundations (Meyer Foundation, A. James & Alice B. Clark Foundation, Surdna Foundation), and government sources (DC Commission of the Arts and Humanities, U.S. Department of Housing and Urban Development) to support programs and operations.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

WACIF is a nonprofit Community Development Financial Institution (CDFI) that provides small business loans, technical assistance, and physical workspace/co-working facilities to underserved entrepreneurs in the Greater Washington DC region. The organization offers three core loan products—Term Loans, Green Growth Fund, and Resilient Growth Fund—alongside signature accelerator programs (Ascend, Certified Up, Sustainable DC Project) and operates business centers including the Anacostia Arts Center, The HIVE, and the Office of Women's Initiatives.

Product overview

WACIF is a Community Development Financial Institution (CDFI) providing a comprehensive suite of financial products and services to support entrepreneurs in the Washington, DC region. The organization offers three core loan programs (Term Loans, Green Growth Fund, and Resilient Growth Fund) that provide access to capital for small businesses. Beyond financing, WACIF delivers capacity-building technical assistance through signature initiatives including the Ascend Capital Accelerator Program, Creators Academy, Digital Refresh, Ascend Beauty, Certified Up, and Sustainable DC Project. The organization operates physical business centers (Anacostia Arts Center, The HIVE, Office of Women's Initiatives, and Capitol Region Women's Business Center) that provide inclusive spaces for entrepreneurs to grow, create, and connect. Additional programs include Seed to Storefront for retail businesses, the Small Business Ecosystem Quarterback Initiative for ecosystem coordination, and the annual Cultivate Summit for entrepreneurship community building.

Differentiator

Problem solved

Functional benefit

Products and services

• Term Loans Flexible, affordable term loan options to fund small business growth, targeted at entrepreneurs in underserved communities of the Greater Washington DC region.
• Green Growth Fund Environmental impact financing with affordable loan terms and bonus grants for sustainable businesses pursuing green practices and certifications.
• Resilient Growth Fund Mission-driven loan support designed to help small businesses build long-term operational and financial stability.
• Ascend Capital Accelerator Program Signature accelerator initiative serving as a launchpad for budding entrepreneurs in the DMV to build sustainable, community-driven businesses through tailored growth strategies, capital readiness support, and mentorship.
• Certified Up Business certification program providing hands-on coaching and technical assistance so entrepreneurs can earn recognized business certifications.
• Sustainable DC Project Program providing funding, green business certification, and operational guidance for small businesses pursuing sustainable practices in Washington, DC.
• Seed to Storefront Small business retail program that takes aspiring retail entrepreneurs from idea to storefront through capital access, free technical assistance, pro bono legal support, and reduced-rent retail space.
• Creators Academy Educational series equipping entrepreneurs and artists with digital economy skills including SEO, content creation, and customer prospecting; has served over 550 entrepreneurs since launch.
• Digital Refresh Masterclass strengthening digital engagement through website optimization and social media strategy using current technology and tactics for small business owners.
• Ascend Beauty Industry-focused accelerator program for beautypreneurs offering workshops, training, and resources tailored to beauty and personal care entrepreneurs.
• Small Business Ecosystem Quarterback Initiative Collaborative initiative strengthening Washington, DC's small business ecosystem by convening entrepreneur support organizations, financial institutions, and community partners to coordinate services and expand financial health support.
• The Pivot Project Initiative helping residents transition into full-time entrepreneurship or scale their small businesses through access to capital via the DMV Catalyst Fund, personalized advising, training workshops, consultant support, and networking opportunities.
• Cultivate Summit Annual summit bringing entrepreneurs, industry leaders, and community partners together for discussions, workshops, and networking to foster entrepreneurship in the DMV region.
• Anacostia Arts Center Creative hub providing co-working, retail space for local artists and small businesses, Black Box Theater, gallery, event venues, and community programming in historic Anacostia.
• The HIVE Launchpad for DC's emerging entrepreneurs and creators providing workspace, resources, and community programming under one roof.
• Office of Women's Initiatives Program empowering women entrepreneurs through capital access, coaching, certification assistance, networking, and community support with focus on women of color in the Greater Washington DC region.
• Capitol Region Women's Business Center

Quantifiable outcome

• Over 3,000 businesses supported across six cities and three states through programming designed by Autumn Kyles
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• D.C. Bar Pro Bono CentercoreStrategic or Co-development Partner · 1 March 2026Partnership for Seed to Storefront Pilot providing legal training, one-on-one assistance for contracts, leases, employment law, and civil legal matters. Operating Small Business Brief Advice Legal Clinics at Anacostia Arts Center.
• Building Bridges Across the RivercoreStrategic or Co-development Partner · 1 March 2026Partnership for Seed to Storefront Pilot connecting entrepreneurs to brick-and-mortar opportunities through Barry Farm development partnership with POAH, providing grants for build-out and technical assistance.
• Preservation of Affordable Housing (POAH)minorStrategic or Co-development Partner · 1 March 2026Real estate partner at Barry Farm development providing 20,000 square feet of ground-floor commercial space with free or reduced rent for Seed to Storefront participants.
• The CoalitionminorStrategic or Co-development Partner · 1 March 2026Ecosystem partner in the Ecosystem Coordination Group for the Small Business Ecosystem Quarterback Initiative.
• Arlington Biz LaunchminorStrategic or Co-development Partner · 1 March 2026Ecosystem partner in the Ecosystem Coordination Group for the Small Business Ecosystem Quarterback Initiative.
• FSC FirstminorStrategic or Co-development Partner · 1 March 2026Ecosystem partner in the Ecosystem Coordination Group for the Small Business Ecosystem Quarterback Initiative.
• Corenic Construction GroupminorImplementation/ SI/ Consulting Partner · 1 January 2026Construction partner for Anacostia Arts Center renovation project.
• Drummond ProjectsminorImplementation/ SI/ Consulting Partner · 1 January 2026Architect for Anacostia Arts Center renovation project.
• Beltway EastminorImplementation/ SI/ Consulting Partner · 1 January 2026Owner's representative for Anacostia Arts Center renovation project.
• Latino Economic Development Center (LEDC)coreStrategic or Co-development Partner · 1 September 2025Joint initiative with WACIF on The Pivot Project, providing comprehensive support including access to capital via DMV Catalyst Fund, personalized advising, training workshops, consultant support, and networking opportunities.
• Nasdaq Entrepreneurial CenterminorGTM or Marketing PartnerStrategic partnership hosting Nasdaq Entrepreneurial Center-led workshops featuring local businesses and providing mentorship and national exposure opportunities.
• DeloitteminorGTM or Marketing PartnerCorporate partner providing mentorship and dynamic networking opportunities for local entrepreneurs.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Capital Impact Partners: National CDFI providing loans, grants, and capacity-building to underinvested communities. Closely comparable in mission, capital deployment model, and community development focus in the DC region.
• Accion: Global nonprofit CDFI focused on small business lending and financial inclusion for underserved entrepreneurs. Directly comparable mission and target borrower profile.
• Justine PETERSEN: St. Louis-based CDFI providing lending and business development services to underserved entrepreneurs. Comparable integrated lending-plus-coaching model with a community development focus.
• CDC Small Business Finance: CDFI providing SBA and conventional loans to underserved small businesses, primarily on the West Coast. Closely comparable SBA-partnered small business CDFI model.
• Grameen America: Microfinance nonprofit CDFI providing small-dollar loans and support to women entrepreneurs in underserved U.S. communities. Closely comparable model combining lending with technical assistance.
• Opportunity Finance Network: National network of CDFIs financing opportunities in distressed communities. While a network rather than a direct lender, its members (including many WACIF peers) operate the same lending-plus-advisory model.
• City First Bank (City First Enterprises): One of the largest Black-led CDFIs and Minority Depository Institutions in the U.S., providing capital and credit access in underserved markets. Directly comparable CDFI model, and CEO Shannan Herbert previously served as EVP/Chief Credit Officer there.

Broad incumbents

• Local Initiatives Support Corporation (LISC): Large national community development organization providing financing, technical assistance, and policy support. Overlapping mission and target geographies but broader scope and larger scale.
• Enterprise Community Partners: National nonprofit focused on affordable housing and community development, including small business support in target geographies. Comparable community development lens with broader portfolio.

Emerging players

• Community Investment Collaborative (CIC): Nonprofit CDFI in Central Virginia providing small business lending and education to underserved entrepreneurs. Smaller-scale, geographically separate, but directly comparable lending-plus-coaching model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/wacif
• YouTubeyoutube.com/channel/UCz38rVOdXTqMfrUO5A0U04Q
• Facebookfacebook.com/WacifDMV
• LinkedInlinkedin.com/company/wacifdmv
• Instagraminstagram.com/wacifdmv

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Washington Area Community Investment Fund