• Your Life Asset loan must be used for business purposes only.
• You must form or join a self-selected group of 5 entrepreneurs; a minimum of 3 to get started. This will be an important part of
  your success!
• You must pay back the loan according to an agreed payment schedule.

• Loan terms are typically 3-12 months.
• The initial loan amount is usually between $500 and $1500. Loan amount can increase as the business grows and based on timely loan payments.
• Our annual interest rate is 6%. There is also a one time fee of 3% on approved loans which helps to cover Life Asset’s operating costs. You can pay off your loan sooner without any fees.
• Loan payments are made via ACH once or twice monthly from the borrowers checking account.

• Training is free to anyone who has a loan with Life Asset or is in the process of applying for a loan.
• Life Asset provides a variety of training classes and events on topics that include marketing, accounting, product development, sales, social media, insurance, contracts and more!
• We offer training classes and one-on-one coaching in English, Spanish and French.

Classes and coaching are offered via zoom and at our three office locations:

 – Every Thursday 6:00 – 7:30pm, 2509 Good Hope Rd SE, Washington, DC 20020

– By appointment, 2448A 18th Street NW, Washington, DC 20009

– By appointment, 8222 Georgia Avenue, Silver Spring, MD 20910.

You can view our schedule on our Training page, or send us an e-mail via info@lifeasset.org to be included on our mailing list for upcoming classes and events.

Groups play a critical role in fostering a sense of shared accountability that eliminates the need for loan collateral; within a Group, one member cannot receive a new loan if a peer has not made progress toward paying his or her loan. Once established, Groups become a self-sustaining community through which entrepreneurs can connect. This “train the trainer” model allows Life Asset to have a powerful impact that extends beyond our direct involvement towards long-term success.

If you have questions about your remaining balance or want to make a payment please call 202-251-6757. If you have general questions or a request to skip a payment or lower your monthly payment amount call or email your loan officer or our office at 202-709-0652.

To access information about your loan such as loan balance, payments or your next payment due, you can also login to your
account via our secure online banking portal.