New Partnership for a Better RIA

The Friends of RIA (FoRIA) has taken a bold step forward to help bring positive redevelopment along the Avenue by partnering with the Washington Area Community Investment Fund (WACIF), which is headquartered in Brookland.  On the FoRIA website, under “Start a Business” the group highlights their partnership with the WACIF and gives would-be business owners the contact information to the Investment Fund. Here is an excerpt of the FoRIA website:

FoRIA is now partnering with the Washington Area Community Investment Fund (WACIF) to connect potential Rhode Island Avenue business-owners with financing and technical assistance.

WACIF provides low cost financing and technical assistance to small businesses, childcare centers, affordable housing developers, and community organizations.

Since inception, WACIF has closed 253 loans totaling $16.7 million, helping leverage $147.7 million in financing for local low- and moderate-income entrepreneurs and nonprofit organizations. WACIF has assisted over 1,200 small businesses through one-on-one assistance, provided $45.6 million in access to capital in lending, and created more than 1,350 full- and part-time jobs.

If you are thinking about bringing your business to Rhode Island Avenue NE, we encourage you to reach out to us and WACIF.


7 Responses to “New Partnership for a Better RIA”

  1. 1 Woodie
    March 29, 2012 at 4:47 pm

    How does this differ from what the Greater Washington Hispanic Chamber of Commerce (GWHCC) is doing to help potential and current business owners on RIA? They appear to be doing the same functions. GWHCC has been helping businesses on RIA and Ward 5 for at least the past 5 years, I think. How much money does WACIF have in its Investment Fund and how does it get its funding?

    Well, WeGrow is set to open it’s doors tomorrow. They helped with the Foria Clean up. A new liquor store in also opening on Rhode Island Avenue near Lace Lounge. Any news on other new businesses on RIA? When will the stores finally open at RIARow?

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