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Business, Nonprofit, and Faith Loans

 

Flexible financing to help you take the next step

Our loans are a great fit for nonprofits, religious organizations, or businesses in a variety of industries. Get the financing you need to buy or renovate a building, purchase equipment, pay for everyday expenses, and more.

We offer fully secured term loans, usually requiring real estate collateral, to businesses that have been operating for at least two years. We can provide SBA financing, including 504 or 7(a) loans.

We do not offer lines of credit or bridge/short-term financing.

 

Where we lend

We currently only offer small business,  faith, and nonprofit loans below $500,000 in North Carolina and the greater Chicago area. Loans of $500,000 and up are available in regions where there is a Self-Help branch.

Borrower and entrepreneur Serigne Seye of Creative Design & Tailoring in Chicago

What we look at

When we evaluate your application, we look at the following criteria:

Cash flow: We’ll need to see 2-3 years of tax returns. Your business or nonprofit needs to have enough annual cash flow to cover expenses plus the loan payments, with revenue left over.

Experience: We will review the experience of project owners, managers and guarantors. We want to see that the owner or manager has relevant experience, both in your industry and in management.

 
Capital

Capital: Our loan can't provide 100% of your project's financing. You will need to have some cash investment in the project, too. We sometimes have programs available to support borrowers who need help with capital contributions.

Collateral

Collateral: In most cases, your loan will need to be fully secured by real estate collateral. We sometimes have programs available to support borrowers who need help with this requirement.

 
Credit

Credit: We will review your personal credit report to see if you have a history of paying debts and suppliers on time. We can make exceptions for one-time events if you can demonstrate consistent on-time payment history otherwise.

Complete an Inquiry Form
 

What to expect

Applying for a loan can be intimidating, but we’re here to make it as easy as possible, every step of the way.

Wondering what the process will be like? Watch below as loan officer Jennifer Sherwin walks through what you can expect: