Lending
Financing that Fits Your Business
Lack of access to capital is one of the most common reasons small businesses do not succeed. With Wacif, you will find both a partner and a mission-based lender that will work with you to obtain the best financing possible to fit your individual needs and goals.
Our safe and secure loan management portal ensures an easier and faster approval process. Find out in seconds if your business qualifies to apply for one of our small business loans.
If necessary, Wacif's advisory services team can help you get loan ready.
Term Loan
$10,000 – $250,000
Terms
- Loan terms up to 72 months
- Interest rates starting at 7.75%
- $50 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
$10,000 – $250,000
Terms
- Loan terms up to 12 months
- Interest rates starting at 11.12%
- $50 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 for the most recent filing deadline 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
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:
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:
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.