City of Dallas Loan Programs

We’re honored to work with the City of Dallas to bring special loan products to underserved entrepreneurs.

If you think one of these programs is a fit for you or your business, click here to get started.

Southern Dallas Small Business Loan Program

Loan Amount: Up to $75,000

Eligibility: Located within the southern sector of the Dallas city limits: south of the Trinity and south of I-30 from downtown to the east of city limit

Length in Business: 18 months operating results

Economic Impact: One job per $50,000 loaned; Strict job creation monitoring

Use of Funds: Working Capital; Machinery/Equipment; Real Estate Acquisition

Financing Structure: Minimum 10% Equity required or sufficient net worth

Terms: Working capital up to 7 years; Machine/Equipment up to 7 years; Owner-occupied real estate up to 15 year amortization

Fees: Closing costs paid by Borrower

City of Dallas HUD/CDBG Revolving Business Loan Program

Loan Amount: Up to $300,000

Eligibility: Business must be located in certain census tracts and block groups within the corporate limits of the city of Dallas. (call to verify address eligibility)

Length in Business:18 months operating results

Economic Impact: One job per $35,000 loaned; 51% of jobs must be available to low/moderate income individuals

Financing Structure: Minimum 10% Equity required or sufficient net worth

Terms: Working capital up to 7 years; Machine/Equipment up to 7 years; Owner-occupied real estate up to 15 year amortization

Fees: Closing costs paid by Borrower

Dallas Development Fund

Eligibility: Business must be for-profit, unable to borrower capital from a commercial bank, located within NMTC-eligible areas in Southern Dallas (call to verify address eligibility), and create jobs with 12 months as a result of receiving the loan

Loan Amount: $25,000 to $100,000

Eligible Use of Funds: Working capital, machinery and equipment (excluding rolling stock), leasehold improvements, and owner-occupied real estate

  • Ineligible use of funds includes refinance of existing debt, investment real estate, and borrowers whose primary business is farming, speculative investments, golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack or other gambling, liquor store.

Interest Rate: Fixed rate between 5% and 9%

Equity Requirement: 10% of total project cost

Personal Guaranty: Personal guaranty of business owner(s) required

Term: Up to 10 years, fully amortizing based on useful life of assets financed

Fees: 1% of loan principal, paid by borrower at close

Not sure if you qualify?

PeopleFund has a wide array of other loan products and special programs to help you get loan-ready. Visit our “Are You Ready?” page for videos and downloads to jump start your loan application, or contact our Dallas team for an in-person visit. You can find more details about our office locations here.

Let’s Get Started.

If one of these programs sounds like a fit for you and your business, let’s get started. Our online application is easy to use, and our friendly staff are here to help if you have any issues along the way.

We’re here to help.

We want to see you and your business succeed. We offer 1:1 advising through our Dallas Women’s Business Assistance Center, tailored curriculums, and postloan mentorship. We also have an online education portal so you can build financial projections and gain valuable business skills from the comfort of your home or office. If you’d like to learn more about our educational programs, contact us.

 

Many thanks to our partners at the City of Dallas for making these loan programs possible.