If you’re interested in applying for a loan, please read below. It may help you determine if our loan programs are a good fit for you.

Basic Loan Requirements

To qualify for a loan, you’ll need to:

  • Be no more than 30 days late on any bills, loans, credit cards, or any other payment. If you are late, the total late balance must be under $3,000 (and it’s preferable that any debt you do have is attributed to emergency circumstances such as layoff or illness).
  • Not have any mortgage-rate adjustments due during the term of the loan.
  • Not have declared bankruptcy in the past 12 months.
  • Not have had any late rent or mortgage payments in the past 12 months.
  • Not have gone through foreclosure in the past 24 months.

If your business has less than six months of sales, here are a few additional requirements:

  • Your business must be located at home or in an incubator.
  • You must have less than $500 in past-due debt.
  • You must present your two most recent paystubs.

Questions? Call 213-353-9400 or click HERE to have a counselor contact you!

If you don’t meet these basic requirements, we encourage you to check back after you’ve had a chance to strengthen your application.

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