Small Business Loans
No interest loans to ensure Texas small businesses remain vibrant and continue to power our community.
LOANS FOR SMALL BUSINESS
Dallas Hebrew Free Loan Association provides interest-free loans up to $20,000 to cover expenses required to grow and sustain business operations.
Term: Payable in equal monthly installments over 48 months (four years). The first payment is due the month following loan origination.
BORROWER REQUIREMENTS
- You must meet DHFLA’s general requirements. (see below)
- You must age 21 years or older.
- Borrower can be an individual, partnership or corporation.
- Individual borrowers must be Jewish; partnerships and corporations must have at least one Jewish partner or c-suite executive.
- Borrower must agree to a personal credit check.
- You must submit a completed loan application and ACH form.
- You cannot be a borrower or guarantor on another DHFLA loan.
- You cannot be in or considering bankruptcy.
ADDITIONAL REQUIREMENTS
- Business plan created using DHFLA’s Business Plan Template (see above).
- Applicable business licenses or permits.
- Previous three years tax returns.
- Two qualified guarantors, one of which lives in the DHFLA lending area.
- Each of your guarantors must submit a completed guaranty agreement (see above) and information release form (see above).
- If you are a married couple, the non-borrowing spouse is considered an additional guarantor.
- Guarantors cannot be Jewish clergy or have a current outstanding DHFLA loan.
FOR EXISTING BUSINESSES
- Previous three years business balance sheets and income statements.
- Current budget with expenses and revenues.
FOR START-UPS AND NEW BUSINESSES
- Minimum 12-month pro-forma income statement (projected profit and loss)—a 24-month pro-forma is preferred.
- Projected start-up costs.
If you are concerned about meeting the guarantor requirement for small business loans, please contact us at 469-206-1639 to discuss the circumstances. We’re here to help, and we may be able to make exceptions to certain requirements.
SMALL BUSINESS LOANS
REQUIREMENTS AND PROCESS
GENERAL REQUIREMENTS
To qualify for a loan, applicants must meet the following minimum requirements. Some loan types have additional qualifying criteria. Visit the loan page for the program for which you want to apply for details on what is required to be considered for a specific type of loan.
- Member of the Jewish community
- Resident of Collin, Cooke, Dallas, Denton, Ellis, Erath, Fannin, Grayson, Hood, Hunt, Johnson, Kaufman, Montague, Palo Pinto, Parker, Rockwall, Somervell or Wise Counties, or any other county in North Central or East Texas that includes Wichita Falls, Texarkana, Tyler, Waco or Longview, Texas for at least six months
- 18 years-old or older, unless otherwise noted
- Demonstrated need
- Show creditworthiness
- No current DHFLA loan
- Not serving as a guarantor on a current DHFLA loan
APPLICATION PROCESS
- Identify which loan type meets your needs. If you’re unsure, contact the Dallas Hebrew Free Loan Association office: 469-206-1639 or dhfla@jfsdallas.org.
- Complete the appropriate loan application and submit with our online form, by email to dhfla@jfsdallas.org or by mail.
- Obtain guarantors and ask them to complete and submit the guarantor paperwork to dhfla@jfsdallas.org.
- If you are a qualified applicant, you will be contacted to schedule a loan interview by Zoom with members of the DHFLA loan committee. You may be asked to submit additional information.
- A loan decision will be communicated to you by the loan officer following the interview.
- If approved, funds will be disbursed following communication of the credit decision.
No interest loans for the Greater North Texas Jewish Community
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CONTACT US
Mailing Address:
PO Box 671235
Dallas, TX 75367-1235
Physical Address:
5402 Arapaho Rd
Dallas, TX 75248
Hours: Monday–Friday, 10 am – 6 pm
Phone: 469-206-1639
What We Do
Dallas Hebrew Free Loan Association (DHFLA) provides interest-free loans to members of the Jewish communities in Collin, Cooke, Dallas, Denton, Ellis, Erath, Fannin, Grayson, Hood, Hunt, Johnson, Kaufman, Montague, Palo Pinto, Parker, Rockwall, Somervell and Wise Counties, and any other county inclusive of Wichita Falls, Texarkana, Tyler, Waco and Longview, Texas.
Member of the International Association of Jewish Free Loans (IAJFL). We are a nonprofit 501c3.