Small Business Loans
Small Business Loans are available to assist entrepreneurs start or expand their businesses when they cannot at this time qualify for incremental conventional lending. Uses are generally for working capital, purchase of equipment, machinery, inventory, construction/renovation, start-up expenses, and/or bridge loans. Pursue an HFLSD interest-free, cost free loan to assist with growing or expanding your small business needs. (Up to $20,000)
Loan Applicants
All business loan applicants (including situations in which a loan applicant has non-Jewish business partners) must have:
- An ownership interest of no less than 40%, and
- An active role in the management of the business, and
- Joint control or greater through an operating agreement.
- Loans are made to the Business; all owners with at least 20% ownership interest must be guarantors.
Our committee of experienced business leaders will provide feedback on your business plan as part of the loan review process.
Additional Documentation
Applicant must demonstrate the viability of the business. Additional documentation required for loan approval include:
- Business and marketing plan
- Description of management/principals (resumes)
- 3-year financial projections and financial statements/tax returns
- Organizational documents (Articles of Incorporation/Organization, Bylaws/Operating Agreement) and good standing/full force and effect certificate
- Copy of lease/deed for location of business
- Proof of business insurance and relevant licenses/permits
- Proof of pursuit of other sources of credit (banks, alternative financing, grants)
- Bank account information
- Personal Financials of Borrower/Guarantor
Other terms may apply.
HFLSD’s interest-free loan program is available to residents of San Diego County. You must be at least 18-years-of-age and a member of the Jewish community to apply. Depending on the size and purpose of your loan request, you may be required to provide 2 guarantors for your loan. Guarantors must be over 25 years old and at least one guarantor must be a resident of California. Please do not let the guarantor requirement keep you from submitting your application. Please complete the secure application form and a member of the HFLSD staff will be in touch as soon as possible regarding your application, guarantor(s) and next steps.
