WE FUND
YOUR
BACK
OFFICE

Many business owners and entrepreneurs in the DMV region are starting from the short end of the 81x racial wealth gap. They are launching businesses powered by vision, determination, and hard work — but often without the capital needed to grow.

 

As a result, these entrepreneurs are forced to wear many hats and frequently exhaust their personal finances just to get their ventures off the ground. Without traditional banking relationships or access to “friends and family” capital — which is a key source of early startup funding — they face additional barriers. In many cases, the people in their personal networks are also historically financially marginalized, making it difficult to raise the early capital that many businesses rely on.

 

The DCCDC BOSSTANK Pilot is designed to help break this cycle. The program invests in Back Office Support Systems that help small businesses scale by strengthening their operations, improving financial readiness, and preparing them for traditional lending, contracting, and procurement opportunities.

 

Selected businesses will receive professional back-office support from our team of Business Advisory and Service Experts (BASE), helping them build the operational foundation needed to grow and compete in the marketplace.

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DCCDC is hiring BASE contractors to provide professional services to our cohort of BOSSTANK businesses. This serves the dual purpose of helping East of the River businesses scale, and provides work for East of the River Residents during these challenging economic times. 

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DCCDC BOSSTANK is launching in partnership with the National Bankers Association Foundation (NBAF), a national network of minority depository institutions (MDIs) and community banks that has been looking to expand banking access in communities like Ward 7 and 8. Support is provided by Health Equity Fund, a component fund of the Greater Washington Community Foundation.

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At the end of the cohort participants will compete in the DCCDC BOSSTANK pitch competition and gain access to NBAF’s network of MDIs, and finance sector partners which will provide entrepreneurs with access to invaluable exposure, expertise, and relationships within the banking community. 

 

Click here to read to read the DCCDC BOSSTANK feature blog on the GWCF website.

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Click here for more about National Bankers Association Foundation.