Small Business Loans

HMFI offers two types of loans: our Small Business Loan (SBL) and our Seed Loan.

Looking to invest in value-added projects, HMFI uses a holistic underwriting process for evaluating applicants. In short, our underwriting process doesn’t focus on your credit score. Instead, we look at a range of quantitative and qualitative information to ensure the requested loan is a solid fit for your business and our organization’s mission.

Our Loan Offerings

Small Business Loan (SBL)

Loan Amount Range

$1,000-$10,000

Fixed Interest Rate

1% per annum

Term Length

6 to 24 months

Seed Loan

Loan Amount Range

$500-$1,000

Fixed Interest Rate

1% per annum

Term Length

Up to 12 months

Our Eligibility Requirements

  • ( 1 ) Monthly income greater than $1,000.
  • ( 2 ) No outstanding tax obligations.
  • ( 3 ) Not undergoing bankruptcy proceedings.
  • ( 4 ) Demonstrates the long-term financial benefit of proposed loan.

Factors of Consideration in Underwriting

  • - Desired use of funds
  • - Business revenues & expenses
  • - Payment history
  • - Income
  • - Account balances
  • - Character references
Client Completes Application on our Website
Our process begins with you filling out some basic information on our website. This helps us acquire the necessary details to consider you as an a potential client.
Pre-Approval
An application that meets the eligibility requirements of our Monitoring Department is approved for the first stage of the loan process.
Document Collection Meeting
After pre-approval, we will arrange a meeting to collect documents and learn more about your business. Documents needed include tax returns, bank statements, and professional references.
Holistic Underwriting Process
Our underwriting process doesn’t focus on your credit score. Instead, we look at your desired use of funds, business financials, payment history, and other non-discriminatory sources of information to ensure the loan is the appropriate amount and fit for your business and our mission.
Loan Approved
Once all these steps are completed and approved by our board, the loan will be disbursed!

The Loan Application Process

Get the capital you need to grow your business.

Apply now.

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