Microloan Lite Program

We make it easier for you to qualify.

Fewer Requirements

You can qualify for the Microloan Lite program with little to no credit history, and fewer required documents.

We Meet You Where You’re At

All businesses that meet the basic eligibility are encouraged to apply. We’ll tailor a loan product to meet your financial capacities and needs.

Loan Terms

 

  • Loan Range: $5,000 to $15,000

  • Term: 1 - 3 years

  • Interest Rate: 6-7%

Fees

 

  • Processing Fee: 5%

  • Late Payment Fee: 5%

  • No application fee or prepayment penalty

Eligibility

 

  • For-profit California business owner

  • In operation for at least 12 months

  • Not in the adult entertainment, pornography, gambling, pawn shops, cannabis, and speculative activities

  • Revenue under $3 million

Allowable Lending Activities

 

  • Working capital, inventory

  • Leasing commercial space and tenant improvements

  • Refinancing of credit card debt used for business purposes and other high-cost business debt

  • Equipment (including vehicles)

  • Other business expenses except to purchase or construct real estate

Required Documents

 

  • (Required) Personal & Business Bank Statements

  • (Upon request) Personal & Business Tax Returns

  • (Upon request) Recent Profit & Loss Statements

Noteworthy

 

  • No minimum credit score required

  • Collateral isn’t required, but may be optional upon request

Ready to apply for a loan?

 

Questions

Call us at (415) 655-5419 or email us at info@tmccommunitycapital.org. Hablamos español.

Need extra help? Schedule a free virtual appointment with one of our team members.