Loan Eligibility Criteria
We know credit scores don't tell the whole story, so we look at each business we meet holistically to see if they have the right blend of experience, drive, and repayment ability.
Review this page to learn about the eligibility requirements to receive a Working Solutions loan. But even if you're not sure you're eligible, please feel free to call us and we'll be happy to talk you through it.
- The owner has at least 1 year of recent, paid, same-industry experience.
- The owner is current on their personal credit obligations.
- We do not require a minimum credit score, but you must be current on all your payments, and not have had a bankruptcy in the last 2 years.
- The owner is 18 years or older.
- The owner is a U.S. citizen, permanent resident, or non-U.S. citizen with an IRS-issued Individual Tax Identification Number (ITIN).
- All owners of 20% or more are required to provide a personal guaranty on the loan.
- Committed to receiving ongoing business coaching and mentoring on areas of further development.
Start-ups (loans up to $50k)
- The owner has a secondary source of income to cover personal expenses while the business is starting up. This could be from a family member, second job, or other source.
- Owner’s equity injection of at least 20% of the requested loan amount.
Existing Businesses (LOANS up to $50k)
- The business has 2 full years of sales history.
- Owner’s equity injection of 10% of the requested loan amount.
If you're not sure your business fits the above criteria, contact us and we'll talk it through with you!
If you do not meet the above criteria, please review our Business Resources to find the right resource for you.
Need a larger loan amount than we offer? Learn more about the Community Advantage working capital loans provided by our sister company, TMC Financing.