by | Apr 11, 2011 | FAQ |
Yes. In order to be eligible for an HBDi loan, a business must be located in the Houston metropolitan area. Additionally, all Fast Track loan applicants must be located in a low-income census tract with 51% or more low-income residents.
by | Apr 11, 2011 | FAQ |
HBDi will accept most unencumbered business and personal assets including real estate, equipment, furniture, inventory, accounts receivable, investment property, marketable securities, etc.
by | Apr 11, 2011 | FAQ |
HBDi micro and small business loans can be repaid without penalty. Fast Track loans, if repaid within the first year of the loan term, carry a prepayment penalty of 10.25% of the outstanding loan balance. After one year, Fast Track loans can be paid without...
by | Apr 11, 2011 | FAQ |
Any principal of the company (an individual with 20% or more ownership) is required to guarantee the loan.
by | Apr 11, 2011 | FAQ |
Yes. Start-up businesses (with fewer than 12 months of operating history) must provide a detailed business plan, inject 15-33% of capital into the business, have relevant industry and management experience, and have sufficient cashflow and collateral to support the...
by | Apr 11, 2011 | FAQ |
A Tandem Loan is an HBDi loan made in conjunction with a matching loan from a commercial lending institution. Typically HBDi funds only a portion of the debt capital (up to 50%) that a borrower may require and a bank provides the balance. The borrower must have a...
