CDFI Prescreen – Alternafi.com

60-second online prescreen. Average funding time 7 business days on approval.

Community Term Loan

5 years at 14.5%. Monthly payments.

CDFI loans are community loans with government backing that offer attractive rates and terms compared to other available products in the market.

This program uses your bank statements to determine your ability to pay, with a credit score as low as 500.

Minimum FICO 500+
Ability to repay the loan based on your bank statements and income
Available in 39 states. Some restricted industries. Negative bank balance limits.
Use of Funds: Working capital, pay off existing debt

Does your business qualify?

Complete this quick prescreen below to see if you may qualify for this program. Questions? Email funding@alternafi.com or text 949-214-4897

Answer the Prescreening Questions Below

Answer each question to see if you are prequalified.

Select your FICO score(Required)

If more than one owner, use the average FICO of all owners.

A FICO score under 500 can qualify for $5,000, but may require additional bank statements. Please contact funding@alternafi.com with questions.

Estimated Loan Amount and Payment*

Complete the answers below.

Affordability

Over the last 3 months according to your bank statements, does your business have free cash flow of around $1500 month? You can include any debt payments you would refinance as well as payments/payroll to yourself.

Bank Statement Monthly Cashflow(Required)

Yes. I have $1500/month in available cash flow.

Unsure

Your bank statements need to show an average of $1500/month in average cash flow. If you are unsure or want to be reviewed, select "Unsure" to continue. Please contact funding@alternafi.com with questions.

If you pass the other requirements, your bank statements can be reviewed to confirm. Please contact funding@alternafi.com with questions.

Program Requirements

This program has specific time in business, industry, and state requirements. Please answer below.

Have you been in business for at least 1 year?(Required)

Yes

You must be in business for at least 1 year. Please contact funding@alternafi.com with questions.

Business State

Confirm your business is not in a restricted state. Currently available in 39 states.

Your business cannot be in a restricted state for this program. Please contact funding@alternafi.com with questions.

Are you in one of the these restricted industries?

Non-Profits
Adult Entertainment
Gambling
Lending Businesses
Passive Income Business
Cannabis or related industry
Any business that restricts participation based on a protected class. (social clubs, etc.)
MLM (multi level marketing)
Agriculture
Content creators or social media promoters
Unlicensed Professional or Technical Services Providers
Real Estate Management or leasing agencies such as Airbnb
Holding Companies
Religious Organizations

It looks like you are in a restricted industry where this program is not available. Please review this list again or contact funding@alternafi.com with questions.

You can still continue with the questions and we can review your industry to confirm. Email funding@alternafi.com with questions.

Trucking/Transportation Industry(Required)

If you are in the trucking/transportation industry the vehicles (a) must be in your company name/use (b) be free and clear of loans/liens and/or (c) use the proceeds of the loan to pay existing loans.

Total Business Vehicle Values(Required)

Estimate of the total values of all vehicles in your company.

Current Vehicle Loans/Liens(Required)

The total you currently owe on all business vehicles.

Please enter a number greater than or equal to 0.

You can still continue with the questions and we can review your industry to confirm. Email funding@alternafi.com with questions.

Business Bank Statements

This program is based on your bank statements to see if the business has the ability to pay back the loan.

How many NSFs have you had over the last 3 months?(Required)

An NSF happens when your bank account goes negative.

This program requires transportation/trucking to use their vehicles as collateral up to the loan amount. If you are unsure, feel free to contact us at funding@alternafi.com with questions.

Do you currently have debt in your business?(Required)

This would include MCAs, term loans, credit cards or any other debt that is shown to be paid from your business bank statements.

Yes

Current Debt Balance(Required)

What is the estimated current outstanding debt balance for your business that you have active payments on?

Current Monthly Debt Payments(Required)

How much do you currently pay monthly to your current business debt that is shown on your bank statement? If you have an MCA where you have to make daily or weekly payments, calculate the total amount paid per month.

Do you pay yourself?(Required)

If you pay yourself to your personal account, either direct transfers or payroll, this can be used to help qualify.

Yes

How much do you pay yourself each month?(Required)

On average, over the last 3 months, how much do you pay yourself each month? These should be payroll or transfers to your personal account as shown on your business bank statements. This can be used as part of the qualification process.

Next Steps

Based on the prescreen, you may be a great candidate for this program. Complete the information below to send next steps for underwriting.

Legal Business Name(Required)

Name(Required)

First Last

Email(Required)

*This is a prescreen only and final bank statements will need to reviewed by an underwriter. Alternafi is a consultant and is providing prescreen and referral services to the CDFI.