Life Asset is a non-profit that offers microloans, training, and support for entrepreneurs in the Greater Washington D.C. area. Since our founding, Life Asset has provided more than 1,500 business owners with loans to make their business dreams a reality. We help entrepreneurs who currently can't qualify for a loan at a bank or other financial institutions.
With our unique "social collateral" lending model, we maintain a higher repayment rate than most lenders without requiring a certain credit score, income level or collateral. When you receive a Life Asset loan, you become a part of a network of peer entrepreneurs who connect with each other, support one another, and bring a wealth of experiences and new customer bases.
With our unique "social collateral" lending model, we maintain a higher repayment rate than most lenders without requiring a certain credit score, income level or collateral. When you receive a Life Asset loan, you become a part of a network of peer entrepreneurs who connect with each other, support one another, and bring a wealth of experiences and new customer bases.
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About
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Founded in 2011, Life Asset's program was developed in direct response to the unmet need for financial services for low-income individuals. Since then, we have remained committed to providing microloans and training to low-income entrepreneurs who are overlooked by traditional lenders and financial institutions.
Loans
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Before you begin your application, review the eligibility requirements and loan terms below. A group member is not responsible to pay off someone else's loan. However, if someone in the group is in default, no one else in the Group can get a new loan. The initial loan amount is $1000 - $1,500. Additional and larger loans (up to $10,000) can be approved based on repayment history and if everyone in the group is in good standing.
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Life Asset can leverage every dollar you give to $6 in loans. That means a $100 gift becomes a $600 loan, and when the loan is repaid, your gift will be recycled back into the program and empower more low-income entrepreneurs. On average, the businesses supported by Life Asset create 2.5 jobs so your support has a ripple effect across the community.
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