Loan Application Process & Documentation Checklist
Overview of the Loan Application Process
Our application process is designed to be straightforward and supportive:
Preliminary Information
We’ll first collect some basic details about you and your business to determine eligibility.
Information Gathering
Next, you’ll complete a few short questionnaires and upload documents so we
can better understand your business and financing needs.
Ongoing Support
Our team will be there every step of the way to guide you through the
process and answer any questions.
Documentation Checklist
You will need the following documents — if you don’t have the full requested
timeframe, partial records are fine. If you are missing a document entirely,
let us know and we’ll work with you to try to find an alternative solution.
Project Cash Flow
Driver’s License or Passport
Household Tax Returns – up to 2 years (if available)
Personal Bank Statements – up to 2 months (if available)
Business Plan – if available
Business Profit & Loss (P&L) Statements – up to 2 years + Year-to-Date (if available)
Business Balance Sheets – up to 2 years + Year-to-Date (if available)
Business Bank Statements – up to 4 months (if available)
Business Tax Returns – up to 2 years (if available)
Insurance Certificate/Proof of Coverage
Lease Agreement or Proof of Ownership
Legal Documents in Compliance – e.g., business licenses, registration, permits, etc.
Who Qualifies for
a CDFI Loan?
Eligibility Requirements
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We prefer for-profit business, nonprofit and community-based organizations who have been in operations for (1) one year or more.
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Demonstrated 1:1 historical global cash flow capacity
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Must be located in Philadelphia, Bucks, Chester, Delaware, Montgomery, Gloucester, Salem, Atlantic, and Camden counties.
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Personal guarantors need a minimum credit score of 620