WHO WE ARE
At ASPIRE Community Capital, we strive to be a leader in business financial literacy by preparing business owners to access capital.
WHAT WE DO
Access to Capital
ASPIRE Community Capital offers two microloan products to help business owners achieve their goals:
Simple Business Loan: This loan is designed for borrowers seeking less than $10,000. It offers easy access to capital with minimal documentation requirements. To qualify, applicants must submit bank statements demonstrating profitability for at least six months.
Success Business Loan: This low-interest financing option is available for applicants seeking over $10,000. It can be used for equipment purchases and working capital. To qualify, applicants must demonstrate profitability by submitting financial documentation such as financial statements and tax returns.
Our microloan products are part of our mission to empower entrepreneurs by providing equitable access to financial products and business resources.
HOW WE DO IT
Passport to Capital
At ASPIRE Community Capital, we recognize that one of the most significant challenges that business owners face when attempting to access capital is having an understanding of their financial statements and using them to make data driven business decisions. Through our boot camps, we provide business owners with the tools and resources to develop a comprehensive business plan that includes developing, understanding and interpreting their cash flow statement, income statement, and balance sheet.
What is a CDFI?
A CDFI is a Community Development Financial institution. As an emerging CDFI, ASPIRE is applying to become certified by the Community Development Financial Institutions Fund (.gov), which will allow us to access additional resources to support our clients.
Aspire Community Capital aligns closely with the CDFI mission in several key ways:
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Aspire offers micro loan products to help business owners reach their goals, including Simple Business Loans for amounts under $10,000 and Success Business Loans for over $10,000. As a CDFI, ASPIRE works with banks and other traditional financial institutions to deploy capital into communities that are typically underserved.
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In addition to financial products, Aspire provides business training, one-on-one coaching, and access to capital resources. Unlike traditional financial institution, CDFIs are required to provide technical assistance to borrowers to not only provide access to capital but to also provide business support.
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Aspire aims to radically transform lives and communities through small business ownership, aligning with the CDFI goal of promoting economic growth at the community level.
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Like CDFIs, Aspire's success is measured by its impact on underserved communities, including increasing access to capital for minority and female entrepreneurs. We look beyond the numbers to ensure our impact extends past your financial statements.
