Washington Area Community Investment Fund 3624 12th Street, NE Washington DC, 20017 Phone: 202-529-5505 www

.wacif.org

District of Columbia Department of Small and Local Business Development 441 4th Street NW Suite 970N Washington, DC, 20001 Phone: 202-727-3900 www.dslbd.dc.gov

Streetscape Relief Loan Fund (SRLF) Fact Sheet – October 2011
The SRLF was established to provide interest-free loans to retail businesses inside or adjoining a streetscape construction or rehabilitation project To be eligible for the loan fund, the business in question must: o Be independently owned, operated, and controlled; o Be licensed to operate and in good standing with DCRA; o Have a Clean Hands Certificate from the Office of Tax and Revenue (OTR) or state that the loan will be used to pay back taxes due to OTR; o Demonstrate financial hardship or debt resulting from, or accumulated during, the streetscape construction or rehabilitation in the District. Street vendors and regional or national franchises are ineligible for the SRLF Eligible recipients of loans from the SRLF can use the proceeds for: o Working capital; o Inventory; o Repair of furniture, fixtures, machinery, or equipment; o Contract cash flow assistance; o Payment of taxes due the Office of Tax and Revenue; o Payment of overdue rent for lease of retail business space affected by the streetscape construction or rehabilitation project; o Payment of overdue mortgage of retail business space affected by the streetscape construction or rehabilitation project; o Payment of other substantiated financial debt affecting the retail business derived from the streetscape construction or rehabilitation project; o Payment of any fees or costs that may be associated with the loan process including 2.5% commitment fee. Commitment fee will sustain loan fund operations. To apply, be ready to provide: o Completed loan application (provided by WACIF or community partner); o Financial status and evidence of hardship, including, but not limited to, tax returns, balance sheet(s), and profit and loss statements; o Clean Hands Certification from the Office of Tax and Revenue or statement that the loan sought will be used to pay outstanding taxes owed the Office of Tax and Revenue together with tax bills; o Certificate of Good Standing and license to operate the retail business from the Department of Consumer and Regulatory Affairs.

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Any additional questions may be directed to info@wacif.org or by calling (202) 529-5505. Thank you for your interest in the Streetscape Relief Loan Fund!

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