The R&B Business Loan Fund at Congregation Beth Or (administered by Hebrew Free Loan Society of Greater Philadelphia) helps people start new businesses or expand existing businesses by offering loans up to $15,000 without interest. For loans greater than $7,500 we require two (2) qualified guarantors; all other loans require one (1) guarantor.
To apply for a loan from the R&B Fund, create an account on the Application Portal. Note: Please be sure to select “Business Loan Applicant” under user type.
Once you create your account, click “apply” to begin your application. You can save your work at any time and come back to the application when ready.
Application Checklist
You’ll need the following materials to complete your Business Loan Application.
[Download a PDF version of this checklist▸]
Borrower Checklist
Please have these items ready before you begin your application:
- Copy of your government-issued photo ID with your current address
- Business plan – use your own or our [Business Plan Template ▸]
- Personal and business resume – use your own or our [Resume Template ▸]
- Organizational papers for your business (e.g., Articles of Incorporation, Business License)
- Contact information for your guarantors
Note: Once you submit your application, the system will automatically email each guarantor their application form. - Signed Business Loan Application Form
- Signed authorization for credit report check
- Signed authorization for background check
Guarantor Checklist
Guarantors are co-signers who agree to pay back the loan if you are unable to do so for any reason.
Number of guarantors required:
- 1 guarantor for loans up to $7,500
- 2 qualified guarantors for loans over $7,500
Guarantors must:
- Not be married to the borrower or to each other
- Not be the borrower’s business partner
- Not have an outstanding loan or be a guarantor on a current loan with our organization
- Reside in Pennsylvania or New Jersey (if you have two guarantors, one may be from another state)
Each guarantor must submit:
- Signed Guarantor Application Form
- Signed authorization for credit report and background check
- Copy of government-issued photo ID with current address