Working Capital is a national non-profit micro loan program created to address the unmet credit needs of the self employed. Working Capital is seeks to increase the income and success of the self- employed by providing loans, business assistance, and a forum for peer support. The program is one of the largest micro credit initiatives in the United States and works to create new opportunities for the self-employed by extending credit to those who would otherwise be denied loans under traditional guidelines.
Beneficiaries report increased income, enhanced management skills, and improved self-esteem.
Working Capital serves over 50 economically disadvantaged urban and rural communities across the East Coast including Massachusetts, Vermont, New Hampshire, Maine, Delaware and parts of Rhode Island and Florida. As a result, these individuals turned to self-employment as a way to supplement or supplant their income. Despite their numbers and economic importance, micro business owners from low income communities have little or no access to credit to support their business. Micro businesses often lack favorable credit histories, well- developed financial records and the collateral needed to secure a conventional loan. Additionally, micro business owners have few technical resources available and few opportunities to exchange ideas and contacts with peers.