ACCESS TO CAPITAL

ASPIRE's Signature Micro-Loan Program

ASPIRE provides micro-loans to assist entrepreneurs with the financial resources needed for their business to soar to the next level. We are here to be a source of capital for the underestimated business owner.

We have the ability to provide micro-loans of up to $25,000 to small business owners

ASPIRE’s Access to Capital Program provides micro-loans of $2,500 to $50,000 to entrepreneurs needing financial resources to take their business to the next level. We aim to become Charlotte’s premiere capital and resource provider for underestimated business owners.

To address the needs for micro-lending services in our community, ASPIRE has received a $125,000 Technical Assistance Grant from CDFI Fund for our Micro-loans, as we move towards full CDFI status.

ASPIRE Presents MicroLoan Check to Mad Dash Kitchen LLC

ASPIRE awards first 'Access to Capital' Program micro-loan check to Mad Dash Kitchen LLC, 2023

 

ASPIRE will also become a source of capital for participants who have gone through the CBA and BAS programs. These participants will be eligible to apply for business funding through the ASPIRE Micro-loan program. To learn more, please contact us.

 

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MicroLoan

COMMON FUNDING NEEDS:

  • Business expansion or acquisition
  • Equipment or inventory purchase
  • Debt consolidation
  • Marketing
  • Unexpected expenses

Did you know...

20% of small businesses fail during the first two years, and 65% fail during the first ten?

The #2 reason small businesses fail is Not Enough Capital!

 

Learn More About Inequality in Lending:

  • In 2020, black owned businesses received LESS THAN TWO PERCENT of small business loans, while white owned small businesses received 86% of this funding
  • Studies show that Black-owned firms are twice as likely to see loan rejections, with less than 47% of financing applications being approved
  • During Covid, 58% of white small business owners got the full amount they requested, as opposed to the 36% of black small businesses
  • Black business owners were 10 percentage points more likely than white business owners to be denied all of the funding they requested during the pandemic.
  • 46% of black owned firms that applied for financing received none of the financing they sought, the largest share of any group.
  • 3% of black owned firms received all the financing they sought in the 12 months prior to the survey, compared to 40% of white-owned firms

*via Credit Survey 2021