Connect with us

Local

Gay-owned firm joins D.C. small business bond program

Allows customers to buy $10 bonds to invest in small local companies

Published

on

‘Instead of going to a bank, we go to small investors in the community,’ said Manny Cosme, president and CEO of CFO Services Group. (Photo courtesy of Cosme)

CFO Services Group, a gay-owned D.C. financial services consulting company, is one of six D.C. small businesses to participate in a program launched in September by Mayor Muriel Bowser that allows small businesses to raise money by offering bonds at a price of $10 each to local community investors.

The D.C. Rebuild Bond Program, which is operating in partnership with the investment marketplace company SMBX, “will enable local businesses to build, expand, and innovate,” according to a statement released by the mayor’s office.

“Local businesses represent the dreams of D.C. residents and are the backbone of our city’s economy,” Bowser said in the statement. “This tool is one more way we can work together to create jobs and opportunities in all eight wards, support our favorite small and local businesses, and uplift entrepreneurs who are invested in our people, culture, and neighborhoods,” the mayor said.

The program, which will operate under the auspices of the Office of the D.C. Deputy Mayor for Business and Economic Development, is also aimed at helping small businesses struggling from the impact of the COVID pandemic, city officials said.

Manny Cosme, president and CEO of the downtown D.C.-based CFO Services Group, also serves as treasurer for D.C.’s Equality Chamber of Commerce, an LGBTQ business advocacy group. Cosme said he and his company are pleased to be among the first six local D.C. businesses to participate in the Rebuild Bond Program to raise capital for his company.

“Instead of going to a bank, we go to small investors in the community,” said Cosme, who noted that some of the investors in the companies participating in the program are loyal customers.

Annie Eser, an SMBX official who serves as the D.C. Rebuild Bond Program Director, told the Washington Blade that SMBX sets up the bond offerings for the businesses participating in the program. She said the company also helps recruit community investors and arranges for them to buy the bonds and receive a monthly interest payment from the business on their bond investment that could be between 4 percent and 7 percent depending on the details of the bond offering.

Brandon Skall, CEO and co-founder of DC Brau Brewing, a popular brewery in Northeast D.C. near the Maryland line, said he’s pleased to have used the services of SMBX to facilitate the sale of his company’s bonds to refinance an existing loan.

“The idea of taking this interest that we would be paying to a bank or to an institution and paying it back to people who actually support our business and other small local businesses was really, really exciting for us,” Skall told the Blade.

He said several of those who bought DC Brau bonds are regular customers at the brewery’s tap room.
“And through the pandemic, we were really kept in business by people who went out of their way to support us and other businesses they cared about,” he said. “But this is a great way that they can invest in an easy format and even have more ownership of the businesses they love.”

The statement from the mayor’s office announcing the D.C. Rebuild Bond Program says it will focus on historically disadvantaged businesses in Wards 5, 7, and 8, but would be open to businesses throughout the city.

“As part of the program, D.C. businesses listed on the SMBX marketplace will benefit from no private lending fees, zero origination fees, and no personal guarantees to secure their loans,” the statement from the mayor’s office says. “They will also receive direct support from the SMBX marketing team to help them reach their goals,” the statement says.

In addition to CFO Services Group, which is located at 1101 Pennsylvania Ave., N.W., and DC Brau Brewing at 3178 Bladensburg Rd., N.E., the other local businesses participating in the D.C. bond program as of this week include El Tamarindo restaurant at 1785 Florida Ave., N.W.; Sticky Fingers Sweets & Eats at 1730 Park Rd., N.W.; Maketto restaurant and retail store at 1351 H St., N.E.; and Chaia Tacos at 615 I St., N.W.

More information about the program for potential investors and small businesses can be obtained through thesmbx.com.

Advertisement
FUND LGBTQ JOURNALISM
SIGN UP FOR E-BLAST

Arts & Entertainment

2026 Most Eligible LGBTQ Singles nominations

We are looking for the most eligible LGBTQ singles in the Washington, D.C. region.

Published

on

We are looking for the most eligible LGBTQ singles in the Washington, D.C. region.

Are you or a friend looking to find a little love in 2026? We are looking for the most eligible LGBTQ singles in the Washington, D.C. region. Nominate you or your friends until January 23rd using the form below or by clicking HERE.

Our most eligible singles will be announced online in February. View our 2025 singles HERE.

Continue Reading

District of Columbia

Imperial Court of Washington drag group has ‘dissolved’

Board president cites declining support since pandemic

Published

on

The Imperial Court of Washington announced that it has ended its operations by dissolving its corporate status. Pictured is the Imperial Court of Washington's 2022 Gala of the Americas. (Washington Blade file photo by Michael Key)

The Imperial Court of Washington, a D.C.-based organization of drag performers that has raised at least $250,000 or more for local LGBTQ and non-LGBTQ charitable groups since its founding in 2010, announced on Jan. 5 that it has ended its operations by dissolving its corporate status.

In a Jan. 5 statement posted on Facebook, Robert Amos, president of the group’s board of directors, said the board voted that day to formally dissolve the organization in accordance with its bylaws.

“This decision was made after careful consideration and was based on several factors, including ongoing challenges in adhering to the bylaws, maintaining compliance with 501(c)(3) requirements, continued lack of member interest and attendance, and a lack of community involvement and support as well,” Amos said in his statement.

He told the Washington Blade in a Jan. 6 telephone interview that the group was no longer in compliance with its bylaws, which require at least six board members, when the number of board members declined to just four. He noted that the lack of compliance with its bylaws also violated the requirements of its IRS status as a nonprofit, tax-exempt 501(c) (3) organization.

According to Amos, the inability to recruit additional board members came at a time when the organization was continuing to encounter a sharp drop in support from the community since the start of the COVID pandemic around 2020 and 2021.

Amos and longtime Imperial Court of Washington member and organizer Richard Legg, who uses the drag name Destiny B. Childs, said in the years since its founding, the group’s drag show fundraising events have often been attended by 150 or more people. They said the events have been held in LGBTQ bars, including Freddie’s Beach Bar in Arlington, as well as in other venues such as theaters and ballrooms.

Among the organizations receiving financial support from Imperial Court of Washington have been SMYAL, PFLAG, Whitman-Walker Health’s Walk to End HIV, Capital Pride Alliance, the DC LGBT Community Center, and the LGBTQ Fallen Heroes Fund. Other groups receiving support included Pets with Disabilities, the Epilepsy Foundation of Washington, and Grandma’s House.

The Imperial Court of Washington’s website, which was still online as of Jan. 6, says the D.C. group has been a proud member of the International Court System, which was founded in San Francisco in 1965 as a drag performance organization that evolved into a charitable fundraising operation with dozens of affiliated “Imperial Court” groups like the one in D.C.  

Amos, who uses the drag name Veronica Blake, said he has heard that Imperial Court groups in other cities including Richmond and New York City, have experienced similar drops in support and attendance in the past year or two. He said the D.C. group’s events in the latter part of 2025 attracted 12 or fewer people, a development that has prevented it from sustaining its operations financially. 

He said the membership, which helped support it financially through membership dues, has declined in recent years from close to 100 to its current membership of 21.

“There’s a lot of good we have done for the groups we supported, for the charities, and the gay community here,” Amos said. “It is just sad that we’ve had to do this, mainly because of the lack of interest and everything going on in the world and the national scene.”   

Continue Reading

Virginia

LGBTQ groups to join Spanberger inaugural parade

Virginia Pride among more than 25 orgs to march in Jan.17 event

Published

on

Abigail Spanberger is set to take the oath of office on Jan. 17. (Washington Blade file photo by Joe Reberkenny)

Virginia Gov.-Elect Abigail Spanberger’s inaugural committee announced on Jan. 2 that at least two LGBTQ organizations will be among more than 25 state-based organizations, including marching bands, that will participate in her inaugural parade on Jan. 17.

A statement released by the inaugural committee says the parade will take place immediately after Spanberger is sworn in as Virginia’s 75th governor and delivers her inaugural address in Richmond.

The statement lists the LGBTQ groups Virginia Pride and Diversity Richmond as two groups participating in the parade, although the two groups merged in 2021, with Virginia Pride becoming a project of Diversity Richmond. Among other things, Virginia Pride organizes Richmond’s annual LGBTQ Pride events.

“A display of the impressive talent and beauty of every corner of Virginia, our inaugural parade will be a celebration of all that makes our Commonwealth strong,” Spanberger said in the Jan. 2 statement. “I’m excited for attendees in the stands on Capitol Square and families watching together at home to see this incredible showing of Virginia pride,” she said.

James Millner, who serves as director of Virginia Pride, told the Washington Blade about 75 people are expected to join the Virginia Pride-Diversity Richmond contingent in the parade. He said among them will be members of other Virginia LGBTQ organizations. 

“We’re going to invite our staff, our board, our volunteers, and our community partners to join us,” Millner said. 

“We are thrilled and honored to have been invited to participate in Abigail Spanberger’s inauguration festivities,” he added. “I think this represents a marked change from the previous administration and demonstrates what she campaigned on – which is she sees the diversity of the Commonwealth as a strength that needs to be celebrated,” he said. “And we are very happy that she has invited us to represent the diversity of the commonwealth.”

Millner appeared to reflect on the sentiment of the large majority of Virginia’s LGBTQ community in its support for Democrat Spanberger over Republican Lt. Gov. Winsome Earle-Sears in the November 2025 Virginia election and the end of incumbent GOP Gov. Glenn Youngkin’s term in office on Jan. 17. 

“After what we’ve been through with the Younkin administration, especially in its treatment of LGBTQ folks, especially transgender and nonconforming folks, I think we are all breathing easy and excited about what opportunities will exist in working with Abigail Spanberger,” he told the Blade.

Continue Reading

Popular