A Bold New Push to Grow Wealth East of the Anacostia River

By Jada Ingleton for The Washington Reporter

D.C. Nonprofits Partner to Boost Small Businesses, Black Ownership

With a yearlong initiative and powerhouse partnership, three of D.C.’s leading nonprofits are marking a new chapter in wealth building east of the Anacostia River.

Officially launched on March 30, the Seed to Storefront Pilot showcases a collective effort to chart upward mobility for small businesses in Wards 7 and 8, guided by the lens of: Building Bridges Across the River, D.C. Bar Pro Bono Center, and Washington Area Community Investment Fund (WACIF).

More than that, the program aims to reignite the power in prioritizing communal investment, all the while boosting what Scott Kratz calls the “heart and soul” of District neighborhoods.

“[Small businesses are] not only these pathways for economic generation, but they’re our employers, and they give the neighborhood the sort of feel of what makes home home,” Kratz, president and CEO of Building Bridges Across the River, told The Informer. “This is an opportunity to really remove barriers…to make sure that as these entrepreneurs are standing up a physical brick-and-mortar retail space, by bringing together these best-in-class nonprofits, it gives a much greater chance of success.” ...

Transforming Ownership, Opportunities for D.C.’s Small Businesses
As cohort participants enjoy interactive learning and team building, much of the Seed to Storefront Pilot indulges a community-centered network.

Beyond revenue growth, Kratz highlighted the power of shifting dynamics in the Southeast quadrant by investing in the spaces that stand as a beacon of the community.   

...“We have to be stewards and neighbors, and we have a responsibility to provide the supports necessary to address the harms deep within this soil,” said Maia Shanklin Roberts, vice president of development for the Preservation of Affordable Housing (POAH) at the Barry Farm Redevelopment. “When we often tell the story of community revitalization, it is a mesh with a narrative of gentrification. It’s often talked about where Black folks don’t get real opportunities to create businesses and flourish, and I think we have a real opportunity to create a resilient and thriving Black neighborhood that has all the amenities and features here, but that’s also affordable.”

Read the full article from The Washington Reporter here.