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NOFA - FY 2021 Equitable Capital Access Fund Grant Program


Friday, February 26, 2021

NOTICE OF FUNDING AVAILABILITY (NOFA)
FY 2021 Equitable Capital Access Fund Grant
NOFA Release Dates: February 26, 2021 to March 11, 2021
Request for Application (RFA) Release Date: March 12, 2021 
RFA Deadline: April 12, 2021 4:00 PM
Grant Identification No.: DMPED – FY21-BLIQ

The Office of the Deputy Mayor for Planning and Economic Development (“DMPED”) invites the submission of proposals for the FY21 DC Local Equity, Access, and Preservation Funds – Equitable Capital Access Fund grant (“ECAF Grant Program”) from qualified respondents to (1) design and operate an innovative capital program that can attract and leverage private dollars to support bond issuances and the guarantees thereof and (2) relocate and operate in Ward 7 or Ward 8 a capacity-building program to support emerging entrepreneurs and existing small business owners who are located in Ward 5, Ward 7, and Ward 8 which increases access to liquidity for targeted businesses through administering a bond stop-loss program. The grant will be awarded and funded in furtherance of the economic development goals or activities of the District pursuant to DC Official Code §2-1225.21. DMPED will award up to a maximum of $500,000.00 to a grantee under this ECAF Grant Program. 

Purpose: The purpose of the ECAF Grant Program is to fund the relocation of an organization to Ward 7 or Ward 8 and the operation of a program which serves to increase access to liquidity for targeted small businesses in Ward 5, Ward 7, and Ward 8, through administering a bond stop loss program, and provide educational programs which increase financial preparedness, fiscal health, and access to credit issuances for small businesses.

Funding Priorities: DMPED seeks to grant funds a qualified applicant that can demonstrate the following qualifications:

  • Expertise in administering a bond issuance and bond stop loss program for qualified small businesses;
  • A demonstrated ability to leverage private funding sources to further extend the ability to leverage funds and serve the target businesses;
  • The ability to serve businesses which have historically been denied access to capital;
  • The ability to serve businesses which maintain and/or create new jobs and have a commitment to hire District residents; and
  • Provide technical assistance to small businesses owned by District residents and District entrepreneurs predominantly located in Ward 5, Ward 7, and Ward 8 on topics such as credit access, and other needs as identified by the grantee.

Eligible applicants: Eligible applicants include 501(c)(3) non-profit corporations, joint ventures, partnerships, cooperatives, and limited liability types of companies or corporations.

Award: Based on the internal review panel recommendations, the Mayor’s budget priorities, the resources available, the goal of achieving a balance as to communities served, and the goals of the ECAF Grant Program, DMPED will make the final funding decision. DMPED will award up $500,000.00 to a successful applicant of the ECAF Grant Program.

Availability of RFA: The RFA and the grant application will be released on Friday, March 5, 2021 and posted at www.dmped.dc.gov.

RFA FY2021 Equitable Capital Access Fund Grant

Selection Criteria: Applications will be evaluated based on the scoring criteria set forth in the RFA.

Application Process: The application process will include an initial screening of applications, a review panel process, and a final review to determine the final funding decision. Each step will be further described in the RFA.

Final Determination of Award: Anticipated time for processing applications is thirty (30) to forty-five (45) days after the date the RFA closes.

Grant Information Sessions: DMPED will host a virtual information and live web chat sessions. Once confirmed, details about the information sessions will be posted on the DMPED website at www.dmped.dc.gov.
 

Contact Name: DMPED Grants Team
Contact Phone: 202.724-8111
Contact Email: [email protected]
 

Deadline for Electronic Submission: Applicants must submit a completed online application to DMPED via the GIFTS Online system no later than 4:00 PM DST on April 12, 2021.