What it is

The DC Department of Insurance, Securities and Banking (DISB) regulates the insurance, securities and banking industries in the District of Columbia. It handles licensing and compliance for insurers, broker-dealers, banks and credit unions, offers tools to verify licensed firms, and takes consumer complaints and fraud reports. It also runs financial empowerment programs such as Bank On DC, DC Opportunity Accounts and the Office of Financial Empowerment and Education.

What it offers founders

DISB's Small Business Resources page is organized into four parts:

  • Launch: pointers on business structure, the DC Basic Business License, tax registration with the Office of Tax and Revenue, the DC Business Portal and Clean Hands certificates.
  • Insure: a Small Business Insurance Guide, DC Health Link for employers with 1 to 50 employees, and how to file an insurance complaint or report fraud.
  • Fund: DC BizCAP plus links to other District and federal funding, including Great Streets grants, the Neighborhood Prosperity Fund, SBA programs and SBIR/STTR.
  • Fortify: disaster preparedness and property protection guidance, and resources on selling, transferring or closing a business.

DC BizCAP

DC BizCAP, the District of Columbia Business Capital Program, is administered by DISB with $13.2 million from the U.S. Treasury's State Small Business Credit Initiative. It aims to provide capital to District small businesses that have faced reduced credit availability. It has three parts: a Collateral Support Program that covers a borrower's collateral shortfall, a Loan Participation Program that buys part of, or lends alongside, loans from participating lenders, and an Innovation Finance Program that provides capital to District startups and emerging companies through co-investment or limited partner investment.

Who it is for

DISB's resources are aimed at District small businesses and entrepreneurs, and its regulatory functions matter to any founder building in insurance, fintech, lending or securities, or raising capital in DC. Founders in regulated financial services will deal with DISB on licensing and compliance.

How to engage

Use the small business page to work through launch, insurance and funding steps, and contact DISB about BizCAP since the program page does not list a direct application. Insurance problems can be raised through the complaints page. DISB is at 1050 First Street NE, Suite 801, Washington, DC 20002, open Monday to Friday, 8:15 am to 4:45 pm except District holidays. Phone (202) 727-8000, email disb@dc.gov.