To qualify for a small business loan,
- You must be a permanent resident of Los Angeles or Ventura county.
- You must have credit scores of 580 or better, can demonstrate need, and have the ability to repay the loan.
- Your guarantors, if needed, need to have good credit and steady income.
- You must submit all documents electronically to JFLA before your virtual interview.
- You understand that a loan application is not automatically approved and is subject to review by the JFLA Loan Committee.
Following are the loan amounts you can apply for:
- $5,000 (Credit Score 580+ with no guarantors)
- $10,000 (Credit Score 580+ with 1 guarantor)
- $20,000 (Credit Score 580+ with 2 guarantors)
- $36,000 (Maximum available with 2 guarantors)
All applications are submitted online at www.jfla.org