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This program is for women looking to start or expand a business in the DMV area. We cater to entrepreneurs at all stages and DO NOT require a specific credit score, collateral, a registered business, guarantors, or a business plan for approval. We are committed to providing financial services to those who are underbanked.

Required documents: online application, ID, SSN/ITIN, credit score, credit report, three recent bank statements, and a voided check or ACH information. To qualify for a small business loan, you’ll also need to provide proof of business, which can include items like a website, social media accounts, flyers, or business registration.

Eligibility and Lending Model

• Loan must be used for the purpose of starting or growing a business in the DMV.
• Form a self-selected group of three women entrepreneurs in your area.
• Each group member receives their own loan.
• Your group acts as your collateral; your group must maintain good standing for individuals to be approved for their next loan.
• Each member must commit to repaying the loan according to the approved schedule and attend center meetings.
• Must participate in group training prior to receiving the loan and committ to in-person group meetings throughout the loan term.

Loan Terms

• Initial loan amounts range from $250 to $2,500. Larger loans, up to $10,000-$25,000 (loans over $10,000 require collateral), can be approved based on repayment capacity, repayment history, and the good standing of all group members.
• No Fees
• Loan terms typically range from 6 to 12 months, with terms up to 48 months available for larger loans. The term length is determined by individual circumstances.
• The annual interest rate is 6% APR
• Borrowers repay a portion of the principal and interest biweekly via ACH (Automated Clearing House), where Life Asset initiates automatic withdrawals from the borrower’s checking account. Therefore, having a checking account is required.

This small business loan is ideal for people looking to start or expand a business in the DMV area. We cater to entrepreneurs at all stages and DO NOT require a specific credit score, collateral, a registered business, guarantors, or a business plan for approval. We are committed to providing financial services to those who are underbanked.

Required documents: online application, ID, SSN/ITIN, credit score, credit report, three recent bank statements, and a voided check or ACH information. To qualify for a small business loan, you’ll also need to provide proof of business, which can include items like a website, social media accounts, flyers, or business registration.

Eligibility and Lending Model

• Loan must be used for the purpose of starting or growing a business in the DMV.
• Form a self-selected group of three entrepreneurs in your area.
• Each group member receives their own loan.
• Your group acts as your collateral; your group must maintain good standing for individuals to be approved for their next loan.
• Each member must commit to repaying the loan according to the approved schedule and attend center meetings.

Loan Terms

• Initial loan amounts range from $250 to $2,500. Larger loans, up to $10,000-$25,000 (loans over $10,000 require collateral), can be approved based on repayment capacity, repayment history, and the good standing of all group members.
• No Fees
• Loan terms typically range from 6 to 12 months, with terms up to 48 months available for larger loans. The term length is determined by individual circumstances.
• The annual interest rate is 6% APR
• Borrowers repay a portion of the principal and interest biweekly via ACH (Automated Clearing House), where Life Asset initiates automatic withdrawals from the borrower’s checking account. Therefore, having a checking account is required.

DSLBD’s District Capitalized Revolving Loan Fund provides equitable access to affordable, flexible capital that can help DC businesses build or improve their business credit. Offered by DSLBD in partnership with fund managers EatsPlace and Life Asset, District Capitalized Revolving Loan Fund will award Micro-Lines of Credit in 2025 and revolve repaid funds in 2026 to extend the impact of, and businesses’ access to available funding. Additionally, DC business borrowers may opt to use their repayment history to build or improve their business credit. 

MICRO-LINE OF CREDIT APPLICATION

Required documents: online application, ID, SSN/ITIN, credit score, credit report, three recent bank statements (business & personal), and a voided check or ACH information, business (if applicable) and personal tax returns. To qualify for a small business loan, you’ll also need to provide proof of active business license, proof of active business status.

You also need to submit your EAC survey for DSLBD.

Eligibility .

a. For-profit entity (Business) based in the District of Columbia. Now open to sole proprietors. (Non-profits are NOT eligible at this point in time);

b. Businesses with 25 or fewer employees;

c. Businesses or business owners who are facing barriers to accessing lines of credit through banks or other traditional funders;

d. Businesses that have active incorporation status, active DC business license(s) and is located in Washington DC; and

e. Applicants that have completed DSLBD’s Equitable Access to Capital Survey

Loan Terms

• LOC amount: up to $10,000 (our main focus is to provide lines of credit between $5,000 – $10,000)
• Term limit: 12 months (with option to renew)
• Interest rate: 6% (APR).
• Fees: No application, origination or closing fees.

This Car Loan for your business can be used for financing or refinancing a new or used vehicle.  You can also use your fully paid-off vehicle as collateral to secure a Small Business Loan, which can be used for any business-related expenses. Only available in DC and Maryland.

Required Documents: online application; government-issued photo ID; Social Security Number; credit score (minimum required: 600); full credit report; last two years of tax returns; three most recent bank statements (business and personal); voided check or ACH information.

Eligibility

• Loan must be used for the purpose of starting or growing a business in DC or MD.
• Minimum credit score of 600.

Loan Terms

• Loan amounts range from $10,000 to $50,000
• Loan terms typically range from  12-72 months.
• The annual interest rate is 6% APR
• Borrowers repay a portion of the principal and interest biweekly via ACH (Automated Clearing House), where Life Asset initiates automatic withdrawals from the borrower’s checking account. Therefore, having a checking account is required.

A Secured Credit Building Loan is recommended for people do not have a credit history or wish to improve their credit. A secured credit-building loan can establish a track record of on-time payments, which is crucial for improving credit scores.

Eligibility

• Available to anyone looking to improve their credit score.
• Commit to pay back the loan according to an approved schedule as we will be reporting these payments to the credit bureau.

Loan Terms

The payment are sent to an escrow account in borrower’s name with Life Asset. The escrow balance will be returned to the borrower at the completion of the terms.

Amount: $250-$500

Terms: 6-12 months

Interest: 6% APR