Small Business Loans

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.