Not sure what documents to prepare?
HERE is a list of attachments and documents you’ll need to have prepared for your application. The type and amount of documents depends on the amount of funding you request and your business type. We consider a startup any business that has been in operation for less than 2 years. You can download a template for your personal financial statements here.
Want to know how to put together the best application possible? Watch this video from our underwriting team talking about common mistakes on the loan application and how you can avoid them:
Worried about your past?
Although our loan approval is based on credit, collateral, cash flow, etc., we consider each loan on its own merits. We understand that issues arise and will do our best to provide the best opportunity for your business. We also work with previously incarcerated individuals or those with prior misdemeanor or nonviolent felony convictions.
Curious about how to use a PeopleFund loan?
PeopleFund provides loans and lines of credit for real estate, leasehold improvements, equipment purchases, personnel expansion, and more. Our clients use funds to grow their business, build and market their product or service, and create jobs. We do not provide loans to individuals for personal ﬁnancial use – just for business purposes.
Our Loan Programs and Interest Rates
- We offer interest rates that vary from 7.5 – 15%, but some reduced rates can be as low as 5%.
- Our terms consider your ability to repay the loan, with a maximum term of 84 months.
- We lend up to $350,000 for existing small businesses, and offer a variety of loan products, including the SBA microloan and SBA 7A Community Advantage
- Interest rate discounts are available for high impact loans, job creation, veteran owned businesses, and other specialty programs. Ask us for more information.
We have a variety of loan products, interest rate discounts, and educational tools to help you and your small business succeed. Our loan officers and underwriters carefully work with each loan to set you up for financial success.
Our SBA 504 loan is designed for procurement of long-term assets such as land, buildings, and equipment with a useful life expectancy of at least 10 years. If you are making a large real estate transaction, learn more about our SBA 504 loan here.
SBA Community Advantage
The Community Advantage Loans are offered through the SBA and are designed to meet the credit, management, and technical assistance needs of small businesses in underserved markets. Offering larger loans, the Community Advantage loan helps existing small business meet their expansion and growth needs.
Thanks to our partnership with the SBA, PeopleFund offers startup businesses a microloan of up to $50,000 to help entrepreneurs who have been in business for less than two years. The Microloan program also includes MICRO, our onsite and online technical assistance program to help small business owners grow their skills.
Southern Dallas Small Business Loan Program
Focusing on job creation, the Southern Dallas Small Business Loan Program is offered through a partnership with the City of Dallas and provides loans from $15,000 to $75,000 to provide working capital, equipment, and real estate funding.
Dallas Community Development Loan Fund
Together with the City of Dallas and the U.S. Department of Housing and Urban Development, we’re working in the most impoverished areas of Dallas to create jobs and drive economic development. If your small business operates in a low income neighborhood and your business is creating jobs, we can provide you with low interest capital to grow your business.
Capital For Texas
We’re partnering with the State of Texas to bring capital to rural business across Texas. If you’re in an area outside of an MSA, apply today!
Small Towns Program
Offered in partnership with Capital One, the Small Towns Loan Program is offered to small businesses in Tyler, Texarkana, Lufkin, Brenham, Giddings, Wharton, Weimar, Schulenburg, Round Rock, Georgetown, Bay City, Victoria, the Rio Grande Valley, and Golden Triangle.
Dallas Development Fund
With a focus on the southern sector, the Dallas Development Fun works with existing small businesses who need $25,000 to $100,000 to create jobs and spur economic development.