The R & B Business Loan Fund at Congregation Beth Or (administered by the Hebrew Free Loan Society of Greater Philadelphia) helps people start new businesses or expand existing businesses into new areas of endeavor 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, please follow these steps below.
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- Download the Business Loan Application Checklist.
- The checklist will help you keep track of all required materials you need in order for your application to be considered complete and then processed.
- Complete and sign the application documents: Business Loan Application form; Credit report authorization; and Background check authorization.
- Upload or email your business plan and resume. Download templates to help you:
- Provide copies of the following documents:
- The organizational papers for your business, such as articles of incorporation;
- Your driver’s license or other government-issued photo ID.
- Find co-signers who will pay back the loan if you are unable to do so for any reason. For loans greater than $7,500 we require two (2) qualified guarantors; all other loans require one (1) guarantor. These co-signers (guarantors) must live in Pennsylvania or New Jersey. One Guarantor must live in PA or NJ and they cannot be your spouse or business partner, nor can they have an outstanding loan with our organization.
- Download the Business Loan Application Checklist.
After we receive your completed and signed application and the completed and signed co-signer applications, we can begin to process your request. Your application will be reviewed by our Business Loan Committee, after which a committee member will contact you to set up an appointment. You will meet with members of the committee to discuss your planned business and this loan.