What types of loans do you make; do you make loans to purchase a home?
The CDLF makes loans to small businesses and to non-profit entities in amounts ranging from $25,000 to $200,000. We focus on loans to minority or women business owners and to businesses located in under-served areas. The CDLF does not make home mortgage loans or home equity loans

Do you lend money to start-up businesses?
We generally do not make loans to start up businesses.  Exceptions are made on a case by case basis.

Who is eligible for a loan from your fund?
Any small business owner whose company is located within Bexar County or any of the surrounding counties may apply for a loan from CDLF.

Do I have to be turned down by a bank first?
Because CDLF is an “alternative” source of financing, it is preferable that you apply for a loan with a commercial bank before applying for a CDLF loan.

Do I need a letter of decline from the bank?
No.

How much money can I borrow?
The loans range in size from $25,000 to $200,000; how much you will qualify for depends on many variables, including collateral value, credit history and financial condition, and cash available to service all debt.

Can I borrow 100% or do I need a down payment?
Typically, you will need to invest at 10-20% of the total project using your own funds.

What do I do if I have bad credit?
Obtain copies of your credit reports and make every effort to clean up your credit report BEFORE you apply for a loan.

How do I apply for a loan?
Before submitting an application, complete the application forms and gather the required information, such as income tax returns.
(See the checklist in the application.)
Call CDLF for an appointment to review your application.

Where can I get help to complete the loan application?
If you need assistance completing the application, talk with your bookkeeper or CPA; or,
Call the Small Business Development Center at 458-2460 or the Minority Business Development Center at 458-2480

Who approves or declines my loan?
All credit decisions are made by a Loan Committee composed of local bankers and small business owners within the San Antonio community.

How long does it take to get the money?
This depends on how quickly you can complete your application and furnish the information requested. Once a complete application is received, a credit decision can be made within 5-10 business days. Closing and funding of the loan can depend on other circumstances outside the control of CDLF.

What can I use as collateral—my home?
Because of the homestead laws in Texas, you may not use your home as collateral for a CDLF loan; however, a rental property may be used as collateral.

Will I need a co-signer?
You may or may not need a co-signer. If you do, that person must furnish CDLF with the same forms and personal information as the small business borrower.

Where else can I go to apply for my loan if you cannot help me?
There are other “alternative” lenders in San Antonio whose lending criteria can vary from that of CDLF. You may call ACCION Texas at 507-4283 or South Texas Business Fund at 207-3936