“With Mayor Bowser’s focus on historically disadvantaged businesses in Wards 5, 7, and 8, we are leveling the playing field so that entrepreneurs and their workers can reach their full potential.” “Throughout the pandemic, we saw DC residents step up to support local, small businesses, and with the DC Rebuild Bond Program they can help small businesses raise the capital they need to succeed, while allowing small investors to support businesses in their community,” said Deputy Mayor for Planning and Economic Development John Falcicchio. They will also receive direct support from the SMBX marketing team to help them reach their goals. As part of the program, DC businesses listed on the SMBX marketplace will benefit from no private lending fees, zero origination fees, and no personal guarantees to secure their loans. By buying Small Business Bonds on the SMBX marketplace, the District community and lifetime small business supporters can become active investors in the businesses they want to see flourish in their neighborhoods. “This tool is one more way we can work together to create jobs and opportunity in all eight wards, support our favorite small and local businesses, and uplift entrepreneurs who are invested in our people, culture, and neighborhoods.”īy issuing Small Business Bonds™ through the SMBX marketplace, local businesses will have a new way to raise capital and achieve independence from conventional bank lending practices at competitive rates. “Local businesses represent the dreams of DC residents and are the backbone our city’s economy,” said Mayor Bowser. The District’s $500,000 investment will use the SMBX marketplace to fuel $5 million in bonds from individual investors to small and local businesses, with a focus on historically disadvantaged businesses in Wards 5, 7, and 8. INPUT: Audio from transceiver, scanner, etc.(Washington, DC) – Today, at the DC Retail Summit, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development (DMPED) launched the DC Rebuild Bond Program, a partnership with SMBX through the Equitable Capital Access Fund Grant that will enable local businesses to build, expand, and innovate. Tone combination It received, the output provides a relayĬontrol *or activating speaker* or other devices.
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