About Us
Since 2011
Small Loans,
Big Impacts
Our History
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. Our client base is highly diverse, but 100% of our clients meet the Department of Housing and Urban Development definition of low-income.
Our proven microlending model (modeled after Grameen Bank) uses “social collateral” rather than traditional loan underwriting criteria to secure loans, allowing us to serve a diverse population of low-income entrepreneurs who do not qualify for a loan elsewhere. Through our innovative program, we empower low-income, underemployed, and underbanked entrepreneurs to disrupt the cycle of poverty, build wealth, and drive economic growth for themselves and their communities.
Life Asset by the Numbers
%
African-American
%
Latino
%
African
%
Other
%
Unemployed
%
Homeless
%
Seniors
%
Persons with Disabilities
%
Ex-offenders
What Drives Us
Our Mission
Life Asset seeks to alleviate poverty, expand economic opportunities, and promote dignity and self-reliance in the greater Washington, DC, area by empowering local low-income entrepreneurs with affordable financial products, services, and education.
What makes Life Asset unique
Our loans help underserved entrepreneurs
Statistics show that 45 percent of small businesses fail because they are unable to get the loan they need. We provide business training and small loans to entrepreneurs who want to start or expand a business but are can't get loans from traditional banks, credit unions and other non-profit lenders.
Our community impact is positive and measurable
With each business that grows as a result of a Life Asset loan, the surrounding community benefits. On average, each business our support helps to launch or expand creates 2.5 jobs, and in the past year, Life Asset clients employed over 2,500 individuals (including temporary and seasonal jobs). Thriving small business has concentric impact meaning others in the community are economically uplifted and vocationally empowered.
Our approach gets results
96% of businesses we support are still in operation one year after repaying their loan. With close to 80% of US entrepreneurs failing with their first 18 months, Life Asset provides a path for the region’s most economically vulnerable business owners to circumvent this cycle and thrive.
As part of our model, Life Asset offers a wide range of business support and technical assistance, such as online training and coaching sessions with our staff.
We also employ a highly unique model of peer-to-peer networking. Our group model is based on creating social communities among entrepreneurs, a critical aspect of our growth and high repayment rate.
Borrowers must participate in a larger network of fellow entrepreneurs, fostering a sense of shared accountability that eliminates the need for loan collateral. These groups become a self-sustaining community through which entrepreneurs can connect in their shared experiences, network and create new business connections, and support each other.
Our Team
Markus Larsson
Executive Director
Markus Larsson is the Founder and Executive Director of Life Asset. Markus has over 20 years of experience starting and developing small companies both nationally and internationally.
John Kavyavu
Director of Small Business Lending & Training (English & French)
John has over 15 years of entrepreneurial and microfinance experience including starting a microfinance organization in Congo serving people in some of the most inaccessible and underserved regions in Africa. English and French speaking.
Vicki P. Davis
Director of Small Business Lending & Training (English)
Vicki brings over 30 years of experience in the banking and financial services sector. Vicki has held senior roles at banks across the region, including TD Bank and Citibank. She has also served as the Executive Director at Operation HOPE, and developed and implemented the Entrepreneurship Program for The Greater Washington Urban League.
Martha Leuro
Small Business Lending and Development Specialist (English & Spanish)
Martha has over 15 years of experience in administrative and management processes, and customer service as well as experience starting/expanding small businesses. English and Spanish speaking.
Kenia Acevedo
Client Portfolio Assistant (English & Spanish)
Kenia has a degree in accounting and brings over 10 years of financial services and banking experience including BB&T Bank and DC Credit Union. English and Spanish speaking.
Our Board
Alfonso Pearson
Community Engagement Relationship Manager
J.P. Morgan Chase
Alfonso has over 25 years of banking and investment experience including prior management roles at SunTrust Bank, E*Trade Financial and PNC Bank. He is an experienced Community Development professional and financial educator with a passion for effecting change in the community.
Terry Flood
Founder & Executive Director
Jubilee Jobs Inc.
Jubilee Jobs is one of the longest-serving and best non-profit workforce development provider in the Greater Washington Region. Terry has worked within the Life Asset Target Market of low-income individuals for over 45 years and has a thorough understanding of this market. Terry is a founding board member of Life Asset.
Olive Idehen
Founder & Executive Director
Callive
Callive, Inc. is an organizational development consulting firm to small and mid-sized nonprofit organizations and a financial coach to individuals. Olive has extensive experience in the financial sector including Senior Manager, Community Investment at E*TRADE Bank, and prior to that she served as Bank of America’s Vice President, Community Relations Manager.
Jaime Quiros
Portfolio Manager
FBB Capital Partners
Jaime has extensive experience in the financial sector. His thoughts on financial planning best practices have been featured in USA Today, Forbes, and CNN Money. Jaime’s previous experience includes time working on Wall Street as an equity trader and in multiple other market capacities including market making, portfolio management, and private client lending.
Markus Larsson
Executive Director
Life Asset
Markus is the Founder and Executive Director of Life Asset. Markus has over 20 years of experience starting and developing small businesses both nationally and internationally.
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Life Asset, Inc.
1640 Columbia Rd NW #104
Washington, DC 20009
(202) 709-0652
info@lifeasset.org
Life Asset, Marshall Heights
3939 Benning Rd NE
Washington, DC 20019
Life Asset, LaunchWork Places
1201 Seven Locks Rd Suite #360 Office #10
Rockville, MD 20854