Entrepreneurs with low incomes stand to benefit the most from small loans, yet few qualify for them: poor credit, minimal savings, and other financial challenges stand in the way. Life Assets provides microloans (under $5,000) to promising entrepreneurs who too often get overlooked. 75% are recent immigrants and 80% are women with low incomes (40% of whom are single mothers). Microloans allow them to start or grow businesses, earn an income, and create jobs. Additional business training and support sets them up for success, leveraging the loan and encouraging long-term financial sustainability. A loan program helps borrowers build or repair their credit scores – critical in securing employment or renting a home. Since 2011, Life Assets has provided nearly 2900 loans to 1500 entrepreneurs, with a repayment rate of over 98%. For every dollar loaned, two are generated: a superb investment.

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Awards & Recognition

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Press

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Budget (FY2023)

  • $3 million or higher
  • The current budget for Life Asset is: $1 million to $3 million
  • $500k to $1 million
  • Less than $500k

Catalogue charities range in size from $100,000 to $3 million. This graphic indicates the budget range of the organization featured here. If you see an organizational budget above the $3 million mark, that is because the featured charity has grown in size since it first appeared in the Catalogue. We proudly present on our website the work of these "growth" charities.

About Spur Local

Every year, 190+ local nonprofits (with budgets under $4M) apply to join the Spur Local network. 170+ community volunteers assess these applications for impact. 100% of organizations are site visited and financially reviewed. Finally, 76+ critical, local nonprofits are selected for inclusion in Spur Local's annual print and digital catalog, and enter a four-year partnership with us. Since 2003, we have raised over $65 million for nonprofits across the Greater Washington region. We charge no fees and raise funds separately to support our work.

Spur Local looks to friends like you to keep our services independent and entirely free of charge. Consider a small contribution to Spur Local to cap off your gift and help the causes you care about get the full support they deserve!

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