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

1. Business owner must be a U.S. citizen, legal permanent resident, or have a valid work visa 
2. Must have filed federal income taxes for the most recent filing deadline with the IRS (business and/or personal) or have filed an extension
3. Business must have a business bank account 
4. Must have been in business for a minimum of 1 year 
5. Must have had business revenue at or above $50,000 during the previous fiscal year
6. Cannot be a non-profit (with the exception of child care centers), an unregistered business, or a Limited Cooperative Association 
7. Cannot be a business within the following list of restricted industries
   1. WACIF cannot lend to businesses in the following industries:
   2. Lobbying or politically-focused businesses;
   3. Any speculative business (such as oil wildcatting);
   4. 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;
   5. Any businesses teaching, counseling or indoctrinating religion or religious beliefs;
   6. Any pyramid sale distribution plan;
   7. Gambling (including legal);
   8. Any financial business primarily engaged in lending, or loan packagers earning more than one third of their gross annual revenues from packaging SBA loans;
   9. Life Insurance companies;
   10. Any business engaged in illegal activity;
   11. Tanning salons
   12. Cannabis businesses
   13. Pawn shops
   14. Astrology, palm reading

Documentation Requirements: View the documentation WACIF requests during its underwriting process.