FAQs

What types of loans does The Loan Fund offer?

The Loan Fund offers loans for:

Small businesses
Start up businesses
Nonprofit organizations
Business Lines of Credit

We DO finance:

Equipment
Inventory
Consumer loans
Building renovations
Operating capital
Business expansions

We DON’T finance:

Liquor
Weapons
Recent bankruptcies
No collateral

Does The Loan Fund offer personal or individual loans?

No.

Who Qualifies?

Owners of established businesses and individuals who want to start their own business. You may qualify if you:

Have a reasonable credit history
Can demonstrate your ability to repay the loan
Can offer acceptable collateral

Does The Loan Fund offer grants to small businesses or start-up businesses?

We do not offer grants; all our loans must be repaid.

What are the typical loan terms, interest rates, and repayment plans?

The Loan Fund offers flexible payment schedules, and we review each loan application on a case-by-case basis.Our typical loan rates and terms are:

Interest rates: 5-8%
Amount: $10,000-$1,000,000. Higher dollar amounts available on case-by-case basis.
Terms: 1 to 10 years for most; 15-20 year amortizations for real estate-based loans.
Fees: For loans up to $100,000, 2% of the loan amount
- For loans greater than $100,000, 1.5% of the loan amount
- For lines of credit, 2% of the loan amount
- For 504 loans, 2% of the loan amount

What will my payment be?

Loan Calculator

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How do I get started?

To talk with one of our loan officers, call us at (505) 243-3196.
If you are ready, apply now.
Process:
- Talk with us!
- Gather and submit the appropriate documents- financials, business plan, etc.
- Underwriting
- Loan closing
Read our short guide on starting a business
See our simplified business plan template

How long does it take to get a loan?

The length of the loan process varies based on when your loan officer receives the appropriate documentation. Typically, it takes three to four weeks to close the loan once all information is received.

What if I want to pay more than my monthly payment? Pay off my loan early?

There is no penalty for either.

How do I get an EIN?

You can get an EIN at no cost, in minutes, on the IRS website.

I don’t think The Loan Fund is right for me. Where else can I go?

Check out these other great resources for small businesses!