Below is a list of nonprofit, community-based organizations offering loans to small businesses that have been unable to obtain financing or stimulus relief funds from traditional banks.
Each offers different products and have different requirements. Search through the list to find the one that might fit your needs.
Formerly Accion
Loan range: $1,000 - $250,000
Interest: 7% to 34%
Affiliation: U.S. Small Business Administration and Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: Credit score 575 or higher; no bankruptcy within last 12 months; less than $3,000 in past due debt.
See full list of requirements, benefits and contact information
Loan range: $5,000 - $250,000
Interest: 1% to 8%
Affiliation: U.S. Small Business Administration and Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: Credit score minimum is flexible; business must be profitable and registered in Florida; owner must be a US citizen or a permanent legal resident.
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Loan range: $5,000 - $25,000
Interest: 4%
Affiliation: N/A
Requirements: Business must be licensed in Miami-Dade County for at least 365 days; business and personal financials records for at least a one-year period.
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Loan range: $2,500 - $150,000
Interest: 6%
Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: Business must be located in the City of Miami; owner must be a US Citizen or permanent legal resident; for conventional and micro-loans, business must be owned by a minority; credit score 550 or higher.
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Loan range: $5,000 - $250,000
Interest: 8%
Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: Business owner must live and work in Miami-Dade County; financial institutions, insurance companies and liquor stores not eligible.
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Loan range: $3,000 - $50,000
Interest: 13.25% - 18% with repayment between 12 and 24 months
Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: No credit score needed; business must be in operation for last six months; located within Palm Beach, Broward or Miami Dade counties; collateral, such as fully paid vehicle, machinery, or business equipment.
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Loan range: $10,000 - $250,000
Interest: 4% to 9%
Affiliation: Community Development Financial Institution (U.S. Treasury) Certified Lender
Requirements: No credit score minimum; each applicant is evaluated based on their individual circumstances.
See full list of requirements, benefits and contact information