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

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

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‘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.

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Comings & Goings

Whitman-Walker honors Rep. Sarah McBride

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U.S. Rep. Sarah McBride (D-Del.) (Washington Blade photo by Michael Key)

The Comings & Goings column is about sharing the professional successes of our community. We want to recognize those landing new jobs, new clients for their business, joining boards of organizations and other achievements. Please share your successes with us at [email protected]

Congratulations to Congresswoman Sarah McBride (D-Del.) on being honored with this year’s Stonewall Award from Whitman-Walker Health. Amy Nelson, senior director of Legal Services, said, “Congresswoman Sarah McBride is working to make healthcare accessible to all, and this award recognizes her support of healthcare as a human right. Our legal program supports families facing unprecedented challenges to stay healthy and safe – families that Congresswoman McBride champions with a deep understanding of the issues they face and the legislative expertise of how to support them.”  

McBride, in a press release, said, “I am honored to accept this year’s Stonewall Award from Whitman-Walker Health — an organization that has spent 40 years doing vital work to ensure every person can access the dignity of care. In the wealthiest and most developed nation on earth, the ability to receive care should not be a matter of luck—it should be the law of the land. I am proud to be recognized as a partner in this work and to support Whitman-Walker Health in their mission to build a healthier society for all.”

Congratulations also to Wes Drummond who will join Clear Space Theatre Company in Rehoboth Beach, Del., as its third artistic director. Managing Director Joe Gfaller said, “This is an exciting moment of growth for Clear Space as we welcome Wes to join our remarkable team. I am confident he will be an excellent partner as we work with our entire staff, board, and committed team of volunteers, to ensure Clear Space can achieve its full potential in pursuit of our mission to unite and enrich our community through every production on stage, and every arts-based learning program we offer throughout our community.” 

On accepting the position Drummond said, “I’m honored to join Clear Space Theatre Company as artistic director, and beyond excited for what we’re about to create together. Clear Space has established itself as a vital and vibrant part of the cultural life of coastal Delaware, and I feel incredibly fortunate to step into this next chapter alongside such a passionate and dedicated team. Rehoboth Beach is a place defined by creativity and community, and I look forward to listening, learning, and building meaningful relationships across the region in the months ahead. My vision is to help Clear Space continue to grow as a bold, forward-thinking, cultural force, that champions fearless storytelling.”

Wes Drummond

Drummond served in leadership roles at Duluth Playhouse in Duluth, Minn., from 2021 to 2026, including four years as executive director followed by one year as executive producing artistic director, guiding the organization through a period of significant transformation and stability in the wake of the COVID-19 pandemic. As a director, he has worked extensively in New York City, Chicago, and at regional theaters across the country, directing both musical theater and plays with a focus on storytelling that bridges classical works with contemporary perspectives. He has collaborated with leading figures in the industry, including Tony Award-winning director Matthew Warchus, and Tony-nominated director Michael Greif. He is an associate member of the Stage Directors and Choreographers Society.

Wes earned his MFA in directing, Penn State University, where he studied under Tony-nominated director, Susan H. Schulman. 

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Virginia

Va. Supreme Court invalidates Democrat-backed redistricting plan

Voters narrowly approved new congressional districts last month

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Virginia Supreme Court (Photo by sainaniritu/Bigstock)

The Virginia Supreme Court on Friday struck down a Democrat-backed redistricting plan that voters approved last month.

Ten of 11 of Virginia’s congressional districts favor Democrats in the plan that passed by a 51-48 vote margin in last month’s referendum.

The Human Rights Campaign PAC is among the groups that support it. The court by a 4-3 majority invalidated the referendum results.

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District of Columbia

Maren Morris to headline Capital Pride Concert

Grammy award-winning singer/songwriter came out as bisexual in 2024

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Maren Morris (Photo by Debby Wong/Bigstock)

Capital Pride Alliance, the group that organizes D.C.’s annual LGBTQ Pride events, announced on May 7 that nationally acclaimed singer-songwriter Maren Morris, who identifies as bisexual, will be the headline performer at this year’s Capital Pride Concert scheduled for June 21.

The concert takes place as part of the annual Capital Pride Festival held on Pennsylvania Avenue, N.W., usually between 3rd Street near the U.S. Capitol and 9th Street.

“Morris, known for her genre-blending sound and outspoken support of LGBTQ+ rights, will be joined by a standout lineup, including acclaimed queer rapper Leikeli47, pop icon Lisa Lisa, Juno-nominated producer and DJ from the ‘Heated Rivalry’ soundtrack, Harrison, and ‘RuPaul’s Drag Race’ Season 18 winner Myki Meeks,” according to a statement released by Capital Pride.

“In a moment when LGBTQ+ people are being challenged across the country, the Capital Pride Concert is a space where our community is fully seen and heard,” Ryan Bos, the Capital Pride Alliance CEO and president, said in the statement. “Bringing Maren Morris to the stage reflects this year’s theme: Exist, Resist, Have the Audacity,” Bos said.

The statement notes that the concert takes place as part of the annual D.C. Pride Festival, which is open to the public free of charge, with tickets available for purchase for specific areas listed as the Capital Stage Pit Zone and the VIP Concert Zone.

It says the festival takes place from 12 –10 p.m. and points out that in addition to the music performed by multiple other performers on several stages, festival attendees “can explore hundreds of exhibitors, community organizations, and artisans, along with multiple food courts and beverage gardens throughout the festival footprint.”

Information on the Capital Pride Alliance website shows that the festival takes place one day after the annual Capital Pride Parade, scheduled for June 20 and which is expected to travel from 14th and T Streets, N.W., to Pennsylvania Ave., N.W., where it is expected to end at 9th Street.  

The statement adds that following the stage performances during the June 21 festival, which are expected to conclude around 8 p.m., “the celebration will continue with the Capitol Sunset Dance Party, closing out the evening against the backdrop of the U.S. Capitol.”  

The online publication Today, which is part of the NBC “Today” television show, reported that Morris came out as bisexual in a 2024 during Pride. It reports Morris “shared several images of herself holding a Pride flag to mark the occasion, writing, ‘Happy to be the B in LGBTQ+’” 

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