CARE Program: Microloans and Small Business Loans
AltCap and Cummins Inc. are working together to provide funding and support for businesses in Dallas-Fort Worth.
The CARE Fund offers accessible small-business loans ranging from $5,000 to $125,000, along with entrepreneurial training and guidance to drive long-term success in underserved communities.
The CARE Program Partnership
Through our partnership with Cummins Inc., AltCap will be able to fund more businesses that need capital to navigate economic challenges, expand operations, and create jobs in their communities.
Details on the CARE Program
The CARE Fund supports businesses in the Dallas-Fort Worth area by providing financial resources to help expand operations.
Terms
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Loan amounts from $5,000 to $125,000
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Loan terms: 36 to 60 months
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Interest rate: 7%
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Terms are subject to change
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Origination fee of 5%.
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Monthly $15 servicing fee on all loans to cover administrative costs.
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Other fees may include UCC filings, vehicle lien filings, or title recording fees.
Personal Documentation
- Valid photo identification
- Personal tax returns, all schedules (1 year for loans under $25K; 2 years for loans over $25K)
- Personal bank statements (4 months)
- Personal financial statement
- Personal household cash flow calculator
Business Documentation
- Signed loan application, including other guarantors or owners
- Business plan (businesses under 12 months old)
- Financial projections (businesses under 12 months old)
- Profit and loss statements, last year and year-to-date (businesses over 12 months old)
- Balance sheet, last year and year-to-date
- Business debt schedule (indicate not applicable if no business debt)
- Business bank statements (4 months)
Financial Documentation
- Business tax returns, all schedules (1 year for loans under $25K; 2 years for loans over $25K)
- Sources and uses of funds
Si necesita un préstamo para pequeñas empresas y necesita ayuda en español, comuníquese con Karina Lopez al (833) 549-2890 o karina@altcap.org.
Start the CARE Program Process
The Loan Readiness Quiz is required before receiving a loan application. It’s free, takes a few minutes, and is the fastest way to get started.
If you have questions, please reach out to us at info@altcap.org, call (833) 549-2890 or fill out the form below.