10,000 Small Businesses

10KSB logoTruFund Financial Services is a proud partner of Goldman Sachs 10,000 Small Businesses in New York City. The program is designed to help local small business owners create jobs and economic opportunity through greater access to business education, financial capital and business support services.

As a 10,000 Small Businesses partner, TruFund extends affordable loans to qualifying small businesses.

Overview of Loan Program

general Eligibility and Product Terms

Operating History

At least one year of operations

Historical Revenue/Budget

At least $200,000 in revenue in prior year

Community/Economic Development Impact

Located in low-­ or moderate­‐income and/or underserved communities, and/or

Majority-owned by women, members of racial/ethnic minorities, or other disadvantaged groups**, and/or

Employ majority of workers from low-­ or moderate­‐income communities

Other Requirements

100 or fewer employees

Loan Type

Term loans (lines of credit on a case-­by­‐case basis)

Eligible Uses

Equipment financing, inventory financing, leasehold improvements, working capital

Loan Size

$50,000–­$750,000

Loan Term

6–60 months

Interest Rate

8–10%

Application Fee

$250

Closing Fee

3.00% – 3.50% of loan amount

Standard Collateral Requirements

UCC-1 filing on business assets and key person life insurance

Guaranty

Personal guaranty required from all principals owning 20% or more

* Eligibility requirements and terms vary by regional location. Additional eligibility requirements and exceptions may apply
** As defined by the U.S. Small Business Administration

Ready to Apply?

Applications are accepted on an ongoing basis. Please complete our Loan Inquiry Form and submit it to info@trufund.org.

Questions? Contact us at: info@trufund.org or toll-free at: 877.296.8878.

Learn More

  • Visit the Goldman Sachs 10,000 Small Businesses website and watch a video about the program.

  • Meet the 10,000 Small Business borrowers.

  • Goldman Sachs 10,000 Small Businesses Education Program. The education program is a practical business management education program that helps you develop the skills you need to grow your company. If you are selected to participate, you also will receive a series of one-on-one business advising sessions from dedicated professionals to help develop a tailored plan for growth.

    To grow your business, apply now for the Business Education Program at LaGuardia Community College.