bit.ly/DCapMicroLOCpilot

Questions? vdavis@lifeasset.org OR info@lifeasset.org

District Capitalized

Business lines of credit offer a pool of borrowed funds that business owners can tap any time to:

a pilot program by DSLBD and Life Asset

The District Capitalized Micro-Line of Credit pilot will award lines of credit up $10,000 at 6% interest for 1-year term with the option to renew to qualified DC-based businesses. The pilot will initially focus on these business groups: Made in DC certified, CBE certified OR businesses in the cleaning, landscaping, childcare or sustainability industries. Explore more. Attend Webinars.

Complete brief survey to share your capital needs and concerns.

To apply for the District Capitalized Micro-Line of Credit, eligible businesses must:

Attend info session, Complete online application, and Submit by 8/3/2023 at 2 PM EST.

• Bridge cash-flow gap between contract awards and payments
• Manufacture products to vend or fulfill a purchase order
• Secure staff, equipment & supplies to meet customer demand
• Build-out or upgrade commercial space or vending truck/stand
  

Micro-Line of Credit

What is a Business Line of Credit (LOC)?

Business Line of Credit is pre-set borrowing limit that a business owner can tap into at any time. The business borrower:

• can take money out as needed until the limit is reached (draw down);
• As drawn-down money is repaid, the borrower can draw down that repaid amount;
• is charged interest on any amount borrowed or drawn down; and
• must repay full amount by the line of credit expiration date.

Example how a Line of Credit Works:

Business is approved for a $10,000 line of credit and borrows the full amount to pay staff. As owner repays monthly, the repaid amount grows to $4000. The borrower may draw down that $4000 again.

District Capitalized

Micro-Line of Credit

1. Headquarters in the District of Columbia
2. Active DC business license(s)
3. Active DC incorporation of a for-profit entity

4. Clean Hands Certificate compliance (5/1/23 or later) no longer required

5. Less than $50,000* net annual revenue

6. Credit score of 600 or higher

7. Applicant business is one (1) of the following:

• Made in DC certified
• CBE certified
• Service provider in cleaning, childcare landscaping, or sustainability* industries

** for examples see https://sustainable.dc.gov/sdc2

*Life Asset may consider a higher amount

(LLCs, business corporations, or partnerships)

District Capitalized

Micro-Line of Credit

District Capitalized

Micro-Line of Credit

bit.ly/MicroLOCpilotAlerts

Subscribe for Updates on future webinars

EXPLORE

the pilot program

start Micro LOC application today!

vdavis@lifeasset.org or info@lifeasset.org

Questions?

Submitting application:

After completing the all the items listed above in the Before Applying section

1. Visit https://lifeasset.org/line-of-credit

2. Complete all fields including these fields as follows:

3. Upload documents in application form, or email: vdavis@lifeasset.org

4. Submit by August 3, 2023 at 2pm EST

1. Learn about Business Lines of Credit. Click to register for a webinar
   
2. Review product terms and eligibility requirements in Explore section and in the Application Paperwork Bootcamp slides
   
3. Attend Live Info Session (virtual, in-person). Click to register for a webinar
   
4. Gather Items to submit (see below)
   

Before applying:

FIELD NAME

• Purpose of Loan
• Who were you referred by?
• What type of business are you in?

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ENTER

Line of Credit

DSLBD

Whether your business is one of the 6 allowable business types