TruFund Small Business Loan

The purpose of TruFund Financial Services, Inc.’s Small Business Loan is to provide access to capital for small businesses.
Terms and Conditions​​
  • $50,000 – $350,000
  • Competitive rate
  • 5 year term/5 year amortization
  • 3 points at closing
  • 600 minimum FICO score
  • 1.1x DSCR
  • Minimum 2 years business and personal tax returns
  • No pre-payment penalty
  • Multiple uses including: debt consolidation, equipment purchase, marketing, new hires, technology upgrades, etc.

The purpose of TruFund’s Financial Services, Inc.’s Small Business Loan is to provide access to capital for small businesses.

​Eligibility​​
  • Credit: Must have a 600 FICO credit score (below 600 may be approved in certain circumstances)
  • Minimum Debt-Service Coverage Ratio: 1.10x
  • Collateral Requirement: Business must have minimum revenue of $200,000 in prior year.
  • Repayment Terms: Monthly P&I payments (may have interest-only period)
  • Business Requirements: Business must have been in operation for at least one year
  • Business Requirements for nonprofits: Nonprofit must have been in operation for at least three years
  • Operating businesses must meet one of the following criteria:
    • Located in a low-to-moderate income area Majority owned by woman
    • Majority owned by minority or other disadvantaged group Employs low-moderate income workers
    • Eligible nonprofit entity (Human or social services, arts/culture organizations)
    • Personal guarantee of all principals with 20% ownership or more. Nonprofit applicants are required to have board members and third- party guarantees

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