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.

Information coming soon

Awards & Recognition

n/a

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

Each year 150+ community advocates review applicants on the basis of governance, equity, and impact. Each featured nonprofit has been successfully site visited and its financials given the thumbs up. Spur Local charges no fees and raises funds separately to support its work. Since 2003, it has raised over $57 million for nonprofits across the Greater Washington region.

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