WACIF's History
Established in 1987, the Washington Area Community Investment Fund, Inc. (WACIF) provides access to capital and technical assistance to affordable housing developers, childcare providers, and small businesses in and around the nation’s capital. In 1996, WACIF became one of the first loan funds in the Washington metropolitan area to be certified as a community development financial institution (CDFI) by the United States Treasury Department.
Since inception, WACIF has committed or funded 207 loans totaling $15.2 million, leveraging $115 million in public and private resources, resulting in the development and/or preservation of more than 1,486 units of affordable housing and 42 community-based facilities and assistance to more than 138 small businesses, creating more than 430 full- and part-time jobs. In 2006, WACIF approved 4 loans totaling $1,088,500, with an additional $1.7 million in loans in the pipeline for early 2007, pending approval. As a result, WACIF helped generate 305 jobs and over $6million in revenue for local small businesses.
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