Business Financing

Photograph of woman of color entrepreneur holding a check from Wacif for $5,000

Access to capital is one of the primary inequities faced by enterprising women of color. Lack of long-term financing can affect a host of issues that slow business growth and threaten business survival.

Please complete the application form to get started today. To best service your needs, our team reviews your answers prior to setting up a meeting.

Get Started

$10,000 – $250,000

Term Loan

Terms:

Loan terms up to 72 months
Interest rates starting at 7.75%
$150 non-refundable application fee
3% Commitment and Servicing fee due at closing
No Pre-payment penalty
No minimum Credit Score
Collateral Requirements: Security interest in all business assets, Personal Guarantee of key owners

Eligible Loan Purposes:

Equipment Financing
Inventory
Working Capital

Line of Credit

Terms:

Loan terms up to 12 months
Interest rates starting at 11.12%
$150 non-refundable application fee
3% Commitment and Servicing fee due at closing
No Pre-payment penalty
No minimum Credit Score
Collateral Requirements: Security interest in all business assets, Personal Guarantee of key owners

Eligible Loan Purposes:

Financing Accounts Receivable (A/R) for contracts and other working capital needs

Are you eligible for a small business loan with Wacif?

Wacif requires the following minimum eligibility criteria to be met for all potential borrowers:

Businesses must be located in one of the following areas:
- DC: District of Columbia
- MD: Montgomery County, Prince George’s County
- VA: Arlington County, City of Alexandria, Fairfax County, City of Fairfax
Business owner must be a U.S. citizen, legal permanent resident, or have a valid work visa
Must have filed federal income taxes with the IRS (business and/or personal) or have filed an extension
Business must have a business bank account
Must have been in business for a minimum of 1 year
Must have had business revenue at or above $50,000 during the previous fiscal year
Cannot be a non-profit (with the exception of child care centers), an unregistered business, or a Limited Cooperative Association
Cannot be a business within the following
Wacif cannot lend to businesses in the following industries:

Lobbying or politically-focused businesses;

Any speculative business (such as oil wildcatting);

Any business that presents live performances of a prurient sexual nature; or derives directly or indirectly more than 5 percent of gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature;

Any businesses teaching, counseling or indoctrinating religion or religious beliefs;

Any pyramid sale distribution plan;

Gambling (including legal);

Any financial business primarily engaged in lending, or loan packagers earning more than one third of their gross annual revenues from packaging SBA loans;

Life Insurance companies;

Any business engaged in illegal activity;

Wacif additionally prohibits borrowers from the following industries:

Tanning salons

Cannabis businesses

Pawn shops

Astrology, palm reading

list of restricted industries

Business Financing

$10,000 – $250,000

Are you eligible for a small business loan with Wacif?

Join Our Growing Ecosystem

Enterprising Women of Color DMV Business Center