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All loans have eligibility requirements.
1. Loans must be used for Bronx based operations only.
2. Applicants must provide three years of personal and business tax returns. Businesses with less than three years of tax returns will be considered a start-up and will require additional documentation such as a robust business plan with detailed balance sheets, income statements and cash flow statements, describing the business in detail and its path to profitability.
3. Documents must include a Personal Financial Statement and a Business Debt Schedule.
4. If partner owns 20% or more of the business, they must also submit a Personal Financial Statement and three years of personal tax returns.
5. Owners must be willing to accept a review of their personal credit report and the credit rating of their business.
6. If a business is renting space, a copy of the business lease is required.