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Frequently Asked Questions

What types of loans does The Loan Fund offer?

The Loan Fund offers loans for:
  • Small businesses
  • Nonprofit organizations
  • Start-up businesses
  • Business Lines of Credit

Does The Loan Fund offer personal or individual loans?

No.

Who Qualifies?

Owners of established businesses and individuals who want to start their own business.
You may qualify if you:
  • Have a reasonable credit history
  • Can demonstrate your ability to repay the loan
  • Can offer acceptable collateral

Does The Loan Fund offer grants to small businesses or start-up businesses?

We do not offer grants; all our loans must be repaid.

What are the typical loan terms, interest rates, and repayment plans?

The Loan Fund offers flexible payment schedules, and we review each loan application on a case-by-case basis.
Our normal loan rates and terms are:
  • Interest rates: 8-10%
  • Amount: $5,000-$500,000. Higher and lower dollar amounts available on case-by-case basis.
  • Terms: 1 to 10 years for most; 15-20 year amortizations for real estate-based loans.
  • Fees: 2% closing fee

How do I get started?

  • To talk with one of our loan officers, call us at (505) 243-3196.
  • If you are ready, download a loan application.
  • Process:
    • Talk with us!
    • Gather and submit the appropriate documents- financials, business plan, etc.
    • Underwriting
    • Loan closing

How long does it take to get a loan?

The length of the loan process varies based on when your loan officer receives the appropriate documentation. Typically, it takes three to four weeks to close the loan once all information is received.

What if I want to pay more than my monthly payment? Pay off my loan early?

 There is no penalty for either.

I don’t think The Loan Fund is right for me. Where else can I go?

Check out these other great resources for small businesses!


  The Loan Fund provides:

 
√  Loans to small businesses, startup businesses, and nonprofits 
 

√  Business consulting services and capacity building technical assistance

 

    Please don't hesitate to contact us

        By phone: 505-243-3196

        Toll-free: 866-873-6746

        Visit us: 423 Iron Ave SW                                  Albuquerque, NM

    Business Loans:

    Our Lending Philosophy
    Microloans
    Small Business Loans
    Nonprofit Loans
     

    Get Involved:

    Donate Now
    Volunteer
    Invest with the Loan Fund
    Our Supporters & Partners

    News & Information:

    In The News

    Financials and Impact Reports

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    Subscribe to The Loan Fund Monthly Newsletter

     

    Frequent Q&A's:

    Small Business Loans
    Nonprofit Loans
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    Giving to the Loan Fund

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