The District’s Department of Small and Local Business Development agency and Life Asset, a financial institution that specializes in microloans based in Northwest, have partnered to launch the District Capitalized Micro-Line of Credit pilot.
Life Asset will award each qualified business up to $10,000 at 6% interest for a one-year term with the option to renew. The pilot will initially focus on District-based small businesses that are Made in DC certified, CBE certified or operate a licensed business that provides cleaning, landscaping, childcare or sustainability services.
The launch and application information session occurred on July 6. The Application Information session will take place on July 10. For more information, subscribe to email updates at bit.ly/MicroLOCpilotAlerts.