Life Asset

Initial loans $250–$2,500; up to $25,000 for repeat borrowers; Micro-Line of Credit up to $10,000 (DC only); 6% APR, no fees

Rolling — apply any time

AMOUNT

Initial loans $250–$2,500; up to $25,000 for repeat borrowers; Micro-Line of Credit up to $10,000 (DC only); 6% APR, no fees

AMOUNT

Initial loans $250–$2,500; up to $25,000 for repeat borrowers; Micro-Line of Credit up to $10,000 (DC only); 6% APR, no fees

DEADLINE

Rolling — apply any time

DEADLINE

Rolling — apply any time

FUNDING TYPE

CDFI, Loan

CAN YOU GET THIS?

You can apply if you're starting or growing a business in the DMV area — no credit score minimum, collateral, or business plan required for most loans.

The core requirement is that loan funds are used for a business in DC, Maryland, or Virginia, and you must form a self-selected group of three entrepreneurs who act as mutual collateral. A checking account is required for biweekly ACH repayments.

YOUR REAL ODDS

Rolling applications mean no competition deadline, but group-lending structure means your approval depends partly on two other people maintaining good standing.

Initial loans are small ($250–$2,500), which likely keeps demand manageable. Larger loans up to $25,000 are available but require a track record of repayment with Life Asset first.

WHAT IT TAKES

Check eligibility and gather documents (ID, SSN/ITIN, bank statements, proof of business) — 1–2 hours
Form or join a group of 3 entrepreneurs and submit online application — 1–3 days
Complete required business and financial training — Varies, before loan disbursement
Begin biweekly repayments within 30 days of receiving funds — Ongoing per loan term

WORTH KNOWING

Borrowers who repay successfully can access larger loans up to $25,000 over time, making this a genuine credit-building pathway — not just a one-time small loan.

Apply on the funder’s site →

Community 1st Credit Union

Varies; loan terms depend on business type and credit profile.

Iowa-based small businesses and startups can apply for business loans through this CDFI credit union on a rolling basis.

Afena Federal Credit Union

Varies; personal and business loans from $200 up to undisclosed amounts depending on product.

Small businesses and startups in Indiana can access loans through this CDFI credit union, with no stated identity restrictions.

The Bridgeway Federal Credit Union

Varies; specific loan amounts not published.

Small businesses and startups in Alabama can apply for loans on a rolling basis through this CDFI credit union.

This is 1 of 1,600+ open opportunities.

$50B+ in available capital across grants, VC funds, CDFIs, and accelerators. Filter by your industry, stage, and region, and see everything you qualify for.

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