Kundan, Bay Area artist.
Putting her first since 2016
GETTING PREPARED

Make sure you have what you need

Before meeting with a loan officer, make sure you have what you need

Before you meet with an SF Fire Credit Union Loan officer, make sure you have the following items with you

YOUR CREDIT HISTORY

You can obtain your credit report once a year from each of the three major credit reporting agencies by visiting www.annualcreditreport.com

A BUSINESS PLAN

There are many resources on the web or at your local government agency. The Office of Small Business in San Francisco has put together a comprehensive guide (found here). We recommend you arrive with a well thought out business plan, or at minimum at strategy with a strong executive summary.

YOUR EQUITY INJECTION

Equity injection is the percentage that the business owner is willing to invest of their own money into their business. This can range anywhere from 10-30%, depending on the riskiness of the buiness

ALTERNATE SOURCES OF INCOME

Due to the financial risks of a new company, proof of alternative sources of income are typically required. This could include a part or full-time job, rental property income, a working spouse or partner, or investment income

FINANCIAL DOCUMENTS

You may want to be able to provide business and personal tax returns, pay stubs, summary of expenses, balance sheets, and income statements

Collateral

When applying for a business loan with a fixed term (i.e. not a line of credit), you will almost always be asked to borrow against some form of collateral (which could be property, cash, vehicles or equity). Think about what you could possibly use as collateral when applying for your business loan if necessary.

Let's Talk

We want to get to know your business and help you achieve your goals. Come into a branch or call us today. Our people are happy to serve you.

Call or Chat

(415) 674-4800
(888) 499-FIRE (3473)
Mon – Sat 7:00 AM – 8:00 PM*

*Please note that 'After Hours Phone Support' is available outside of regular Contact Center Hours.

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Branch hours
Mon – Fri 8:30 AM – 6:00 PM
Saturday 8:30 AM – 3:00 PM

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We have fresh chocolate chip cookies every other Tuesday!