Lending

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Financing that fits your business

Lack of financing is one of the most common reasons a small business does not succeed. With Wacif you’ll find both a partner and flexible lender that will work to find the best financing possible to fit your individual needs and goals.

Loan Products 

Wacif currently offers the following loan products:​

Term Loan

$10,000 – $250,000

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
Get Started

Line of Credit

$10,000 – $250,000

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​
Get Started

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
    ​

 

Documentation Requirements:

View the documentation Wacif requests during its underwriting process.

 

If you are eligible according to the above guidelines and are interested in obtaining a small business loan from Wacif, please fill out the following Inquiry Form: 



Start Your Loan Request

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If you have questions about your eligibility or how to become more loan-ready, you can sign up to talk to one of our Small Business Advisors at the following link: 



Meet With a Small Business Advisor

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Disclaimer: The Loan Inquiry Form linked above is not a loan application. You are not considered an applicant until you fill out a loan application form. Meeting the above eligibility criteria does not guarantee that your business is eligible to apply for a loan or that your business will receive a loan from Wacif.  ​