Without exception, BCF requires a personal guarantee on all business loans for all owners of 10 percent (10%) or more of the ownership shares of the business.
If the business is owned fully or partially by a Limited Liability Company (LLC) or trust, that entity will have to guarantee the loan as well.
You can utilize the loan for major projects as working capital, upgrades to your information technology, equipment purchases, business acquisitions, inventory, lease-hold improvements, relocation, and other uses that are acceptable to Business Consortium Fund and its affiliates.
In most cases, it takes up to 14 days from completed application to closing. However, there are some cases where a loan would take longer to close, e.g., additional information is required.
Click here to review the questions from our prequalification questionnaire. Once this is successfully completed, you will be invited to apply to our loan program.