Who we are
The Innov Loan Fund is a mission-driven social lender that provides innovative and equitable business financing to the under- and un-banked communities in Washington, DC.
Objectives
Our goal is to enhance and expand economic opportunities for individuals facing limited options due to their circumstances.
"Innovative and Accessible Business Financing"
Appointment
INNOV Chatbot - Beta Version
This disclaimer outlines the limitations of the AI chatbot on Chatbase under INNOV.
Who we serve
Who does the Innov Loan Fund serve?
- Returning Citizens
- Un- and under-banked
- Women and minority-owned businesses
- Underserved industries
- Keep in mind that the business
- must be based in Washington, DC.
- Click here to download our flyer
What we do
The Innov Loan Fund provides accessible financing in the form of consumer and small business loans up to $50,000.
We are broadening how creditworthiness is determined by using alternative character & credit-worthiness data. Click here to apply for a loan.
Am I prepared to apply for a loan?
Before you proceed with your loan application, we kindly request that you are prepare to address the following points:
1. Introduce your business and explain its operations, including how it generates revenue. Additionally, identify the key employees responsible for managing the business and highlight their qualifications that make them suitable for their roles.
2. Specify the amount of money you are seeking through the loan and outline your plan for utilizing the requested funds. It would be helpful if you could provide a detailed budget that breaks down how the funds will be allocated.
3. Take stock of your assets that could potentially serve as collateral for the loan. Additionally, disclose any outstanding debts and include a timeline for their repayment.
At INNOV, we take a slightly different approach to document requirements. We prioritize flexibility and value the opportunity for applicants to showcase their creditworthiness in various ways. Feel free to provide any available documentation or information that can demonstrate your creditworthiness, such as evidence of timely bill payments, letters of support from clients, or testimonials from technical assistance providers.