Low-income entrepreneurs stand to benefit the most from small loans and yet few qualify for them: poor credit, minimal savings, and other financial challenges stand in the way. That’s where Life Asset steps in, providing microloans (under $5,000) to promising entrepreneurs who too often get overlooked. 75% are recent immigrants and 80% are low-income women (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 credit-building loan program helps borrowers build or repair their credit scores – a critical step toward securing employment or renting a home. Since 2011, Life Assets has provided nearly 400 loans to 275 entrepreneurs, with a repayment rate over 98%. For every dollar loaned, two dollars is generated. Why not double your investment?
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Awards & Recognition
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- $3 million or higher
- $1 million to $3 million
- $500k to $1 million
- The current budget for Life Asset is: Less than $500k
Catalogue charities range in size from $100,000 to
About the Catalogue for Philanthropy
Each year 120 expert reviewers evaluate applicants for distinction, merit, and impact. Each featured charity has been successfully site visited and its financials given the thumbs up. The Catalogue for Philanthropy charges no fees and raises funds separately to support its work. Since 2003, it has raised over $40 million for charities across the Greater Washington region.
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