Application Process : Getting Started : Business Consortium Fund

Accelerate your application process and meeting your financing needs

As a non-traditional community-based lender, we are dedicated to supporting you. Being open and transparent about your personal and business finances will enable us to explore ways to help you achieve your funding goals. Additionally, responding promptly to our inquiries and requests will expedite the review process. Your privacy is our top priority. Be assured that we will handle your loan application and associated documents with strict confidentiality and professionalism.

1 - Apply Online

Gather your documents and fill out the application. Your application should be completely filled out and free of errors.

Review the list of required documents and upload them to the application portal. This includes recent business tax returns for the past two years, a year-to-date income statement and balance sheet, and a government-issued ID. Providing these documents will give the underwriting team a complete view of your business and its potential for success.

2 - Initial Review for Pre-Qualification and Verification by BCF

BCF reviews whether your business meets the basic minimum criteria, including loan purpose and requested amount meet our lending rules.

After the initial review, a Loan Officer will determine whether: (a) your application is ready to be forwarded to our Underwriter for decision-making, or (b) additional information is needed to improve its quality. If more information is required, we will contact you to schedule a consultation.

3 - Underwriting

BCF reviews your credit history and assesses your capacity to take on new capital. A throughout review of your financial documents, such as cash flow, expenses, debt, contracts/purchase orders, and available collateral, is conducted.

Further due diligence may include reference checks and site visits.

Be sure to respond promptly to inquiries or requests from BCF to expedite the review process.

4 - Finalizing and Funding

Once approved – BCF will contact you directly to discuss the closing process and schedule your closing.

Be sure you clearly understand the terms of the loan before loan closing and funding.

Sign up for ACH or autopay to avoid late fees; most lenders require ACH payments at closing.

Create a clear plan for staying on track with payments.