Trustee: Washington, DC Women's Business Center

Washington, DC

Why are you interested in becoming a Trustee?
The DC WBC provides training and counseling to women entrepreneurs that are in need of capital to start and grow their businesses. We also work with women who are economically and socially disadvantaged and have very limited options to fund their microbusinesses. As a Trustee, DC WBC would be able to continue our support for women entrepreneurs through endorsement of their businesses for funding.
What is the mission of your organization?
The mission of the DC Women’s Business Center (DC WBC) is to empower women to build strong businesses.
In the past, how effective have you been in achieving this mission?
DC WBC has been extremely successful in meeting it's goals. Since our launch we have exceeded out SBA goals of training and counseling by more than 200%. We measure and track the following outcomes: Number of people trained, Number of people counseled, Number of jobs created, Amount of financing/access to capital received, and amount of procurement contracts awarded.
Do you belong to any organizational networks -- nationally, regionally, or locally? If yes, please list.
DC WBC is hosted by: The National Community Reinvestment Coalition DC WBC is an SBA Resource Partner
How will you decide who to endorse as a borrower? What due diligence will you conduct?
The DC WBC will endorse borrowers who have completed our intensive business development courses that include 15-27 hours of business training. Our borrowers will also be required to participate in one-on-one lending preparation counseling. We will check for a complete business plan with financial projections that include a loan repayment schedule. We will also check for appropriate business licensing, management, experience, and past performance. We serve as personal assistants to our clients and we are intimately involved in their business start-up and growth. This includes a full understanding of their business finances and operational challenges.
How do you plan to support the borrower, both before and after the loan is disbursed?
Borrowers will receive business training and counseling prior to receiving the loan and will continue to receive one-on-one counseling to answer any questions and provide continued business growth support after the loan is disbursed. In addition to the technical assistance, we will continue to offer training opportunities for business finances, marketing, and operations.
How will you help us ensure that the loans you endorse have a significant and positive social impact?
We will endorse borrowers who are microbusinesses and who have had diffulties in obtaining financing for their business. We will also endorse a majority of women entrepreneurs that are often the primary caregivers and providers in their families.

About Washington, DC Women's Business Center

Trustee Type:
First Tier trustee
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On Zip Since:
Dec 10, 2012
(44 months)
Loans Endorsed:
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