California has about 4.2 million small business owners who can apply for small business grants. Submitting an application and competing for small business grants in California can help you grow your small or medium-sized enterprise in the Golden State.
California’s economy has a gross domestic product of nearly $3.6 trillion as of 2022. That’s the largest GDP in the United States out of the 50 states and the District of Columbia. Small businesses contribute to the nation’s economy.
Small and medium-sized firms exported about $58.3 billion worth of goods from California in 2020, second in the nation behind Texas ($95.4 billion), according to the most recent U.S. Census Bureau export data.Below we highlight some of the top small business grants in California that you can explore.
Grants for Small Businesses in California
If you’re looking for small business grants in California, here are some potential options to consider:
Replacing, Removing, or Upgrading Underground Storage Tanks (RUST) Grants
- Program description: California RUST grants provide eligible small business underground storage tank owners and operators with financing of up to 100% of the costs necessary to upgrade, remove, or replace project tanks to comply with the Golden State’s health and safety regulations.
- Incentive: Receive between $3,000 and $70,000 to replace, remove, or upgrade your small business underground storage tank infrastructure. This financing can cover up to 100% of the costs necessary to undertake a RUST project.
- General requirements: Here are some of the general requirements for this grant:
- Be the owner or operator of an underground storage tank
- Employ fewer than 20 full-time and part-time employees as an independent small business owner
- Have principal offices and company officers domiciled in California
- The facility where your project tank is located legally sold gasoline after January 1999 as a fuel retailer
- You’ve sold less than 1.5 million gallons of gasoline annually for each of the two years preceding the submission of your grant application
- Be in compliance with state health and safety codes
- How to apply: You can submit an application through the California State Water Resources Control Board’s Financial Assistance Application Submittal Tool (FAAST) system.
California Civil Money Penalty (CMP) Nursing Home Grants
- Program description: California’s skilled nursing home facilities can apply for CMP communicative technology grants to purchase tablets and tablet-related accessories. Eligible nursing homes can also apply for CMP reinvestment project grants to cover expenses related to improving the quality of care or quality of life for long-term care facility residents.
- Incentive: Receive funding for nursing home reinvestment projects. (There is no stated limit to the amount of funds you can request for reinvestment projects that improve the quality of life for residents in skilled nursing facilities.) You can generally request up to $3,000 to buy tablets for telehealth and virtual family visits.
- General requirements: You may qualify for these grants if you operate a certified skilled nursing facility (SNF) in California.
- How to apply: Access the application forms online and submit a completed application to the California Department of Public Health.
California Small Agricultural Business Drought and Flood Relief Grants
- Program description: This program can provide grants to eligible small agricultural businesses in California that have been financially impacted by severe drought or flooding.
- Incentive: Receive up to $100K if you’re a qualified small agricultural business owner impacted financially by flooding or drought.
- General requirements: Here are some of the general requirements for these grants:
- Operate a small agricultural business domiciled in California
- Have 100 or fewer full-time employees
- Have conducted business in California prior to January 2020
- Your business is currently active and operating
- Storm flooding or severe drought has affected your business financially
- How to apply: You can apply through California’s drought and flood relief grant portal.
California Department of Food and Agriculture (CDFA) Grants
- Program description: The California Department of Food and Agriculture offers a variety of small business grant programs through its Office of Farm to Fork.
- Incentive: Eligible small businesses can request funding for key initiatives, such as funding to buy energy-efficient refrigeration and freezer equipment under the annual Healthy Refrigeration Grant Program.
- General requirements: Requirements can vary by grant, but you’ll generally need to operate a qualified small business in California in an urban area or low-food access area to be eligible for one of these grants.
- How to apply: Apply online for any open CDFA Office of Farm to Fork grant opportunities.
EmployABILITY Business Grant
- Program description: Small business owners in California can use this grant to hire, train, and accommodate individuals with neurodevelopmental conditions or physical disabilities.
- Incentive: Receive $20K to $200K to support the hiring and training of neurodiverse employees or individuals with physical disabilities.
- General requirements: Be a California small or medium-sized business owner and commit to hiring and employing individuals with disabilities to qualify for this grant.
- How to apply: Visit EmployABILITY California if you’re interested in applying.
Who Provides Small Business Grants in California?
State government agencies, including the California Department of Rehabilitation, offer a variety of small business grants in California.You can compare small business grants in California with similar programs in other states, such as:
- Colorado small business grants
- Florida small business grants
- Indiana small business grants
- New York small business grants
- Texas small business grants
- Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, small and midsized business owners are not required to pay back an SMB grant absent any violations.
You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.
Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.
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Who Is Eligible for Small Business Grants in California?
Local business owners or operators of an enterprise with fewer than 500 employees may be eligible for small business grants in California.
The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. A small business, including individuals with freelancing business ideas, may be eligible for small business grants.
What Industries Does California Support With Grants?
Virtually all industry sectors in California can be eligible for California small business grants, including:
- Agriculture, forestry, fishing, and hunting businesses
- Environmental consulting services
- Nursing and residential care facilities
- Retail trade (store and nonstore retailers)
California Resources for SMB Owners Looking for Funding
Here are some resources for small and medium-sized businesses looking for funding in the Golden State:
California Small Business Development Center (SBDC)
The California SBDC is a statewide program that can provide California’s small business owners with the following services:
- Confidential advising
- Connecting tech entrepreneurs with venture capital
- Interactive training sessions
SBA District Offices in California
The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA has six district offices in California:
- SBA Fresno District Office. This SBA district serves California’s San Joaquin Valley and Central Coast. It’s centrally located in Fresno.
- SBA Los Angeles District Office. This SBA district serves three counties in southeastern California (Los Angeles, Santa Barbara, and Ventura). It’s located in Los Angeles.
- SBA Orange County / Inland Empire District Office. This SBA district serves three southern California counties (Orange, San Bernardino, and Riverside). Depending on where you’re based, you can contact the main office in Santa Ana or the branch office in Palm Desert.
- SBA Sacramento District Office. This SBA district serves 21 counties in northeastern California. It’s centrally located in Citrus Heights.
- SBA San Diego District Office. This SBA district serves the southernmost counties in California (San Diego and Imperial). It’s based in San Diego.
- SBA San Francisco District Office. This SBA district serves 14 counties in northern California, including south of the Bay Area in Santa Cruz and along the Oregon border in Del Norte. It’s based in San Francisco.
Alternative Funding Sources for Small Businesses in California
Here are some alternative funding sources for small businesses in California:
California State Small Business Credit Initiative (SSBCI)
California’s SSBCI is a federally funded program for small business owners in the Golden State. Federal law — the American Rescue Plan Act of 2021 — allocates nearly $1.2 billion to California’s State Small Business Credit Initiative program.Here’s how California plans to use the SSBCI funding:
- California Collateral Support Program — $472.8 million. This program provides cash collateral to help small businesses qualify for small business loans.
- California Small Business Loan Guarantee Program — $391 million. This program helps California small business owners access funding, including financing for startup costs, construction, inventory, working capital, and business expansion.
- California Capital Access Program (CalCAP) — $118.2 million. This program, also known as CalCAP for Small Business, uses SSBCI matching funds to support portfolio insurance on small business loans.
- Inclusive California Initiative — $100 million. This program helps provide venture capital funding to California small businesses owned by socially and economically disadvantaged individuals.
- Emerging California Initiative — $50 million. This program provides venture capital funding to underrepresented managers and fund managers who intend to invest in small businesses owned by socially and economically disadvantaged individuals.
- California Co-investment Initiative — $50 million. This program will help provide venture capital funding to eligible businesses, including those owned by underrepresented individuals or based in underserved regions of California.
California Microloan Lenders
Community-based nonprofits may offer microloans of up to $50,000 to small business owners in California, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50K and may be available to startups.
California SMB Loans from Private Lenders
Banks, credit unions, and private lenders may offer different types of small business loans to California business owners.Here are some of the funding products you may consider depending on your needs:
- Commercial real estate loans
- Equipment financing
- Small business loans for startups
- Working capital lines of credit
This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.
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18 loans for Hispanic-owned businesses
There are nearly 5 million Hispanic-owned businesses in the U.S., making this the fastest-growing segment of U.S. small businesses, according to the U.S. Small Business Administration (SBA). Yet, despite these big numbers, Hispanic and Latinx business owners frequently face challenges accessing capital and, as a result, often can’t successfully scale their businesses.
Fortunately, a number of organizations and government agencies in the U.S. are stepping up to address this unmet need, offering loans, grants, and other financing options to Hispanic and other minority entrepreneurs. These minority business loans may have lower interest rates and be easier to qualify for than some traditional loans. Here are 18 financing options that are worth checking out.
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To qualify as a Hispanic-owned business, more than 50% of the company must be owned by people of Mexican, Puerto Rican, Cuban, or other Hispanic origin. Currently, nearly one in four businesses are Hispanic-owned.
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A minority business loan is a small business loan designed to provide financing options for underserved communities. While minorities are free to apply for any business loan, minority business loans may offer more competitive rates and have less stringent qualification requirements.
Groups that are considered minorities in the U.S. include African Americans, Asian Americans, Hispanic Americans, and Native Americans. Women are also considered minorities for many types of loans, as well.
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The following lenders offer different types of small business loans to Hispanic and minority entrepreneurs and were chosen based on our analysis of search volume.
1. Accion
Accion is a nonprofit financial institution that invests in underserved communities and offers low-cost lending opportunities to Hispanic- and minority-owned businesses. The Accion Opportunity Fund provides loan amounts from $5,000 to $100,000, and is quick and easy to apply for online.
Accion offers two types of small business loans — the Southern Opportunity and Resilience (SOAR) Fund and the Small Business Progress Loan. SOAR is geared toward those in the south and southeast who experienced economic hardship from the COVID-19 pandemic and have been in business since September 2019 or earlier. The Small Business Progress Loan, on the other hand, is open to all minority-owned businesses and women entrepreneurs, and is partnered with American Express.
Accion also offers online resources, events, and networking opportunities (in Spanish and English) to help minority business owners learn and grow their companies.
(Learn more at: Home Affordability Calculator)
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The Community Development Financial Institutions Fund (CDFI Fund), which is part of the U.S. Treasury, gives funds to companies and organizations that help underserved people and communities. Minority business owners can reach out to local banks and nonprofit groups that have received CDFI funds to discuss and apply for low-cost business loans.
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The owners of Camino Financial were inspired to start their lending business in order to help people like their mother, who lost her Mexican restaurant business when they were children. To that end, they offer simple and affordable loans to small businesses who find it difficult to borrow through banks. They offer bad credit loans, secured and unsecured loans, microloans, and working capital loans up to $35,000. To qualify, your business must have been in operation for at least nine months and generate annual sales of $30,000 or $2,500 a month.
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The U.S. Small Business Administration (SBA) offers several financing programs that can help minority-owned businesses get access to the funding they need. Here are two programs you may want to check out to find a Hispanic small business loan:
Microloans
The SBA microloan program is administered by an intermediary network of nonprofit community-based lenders, rather than traditional banks. Through these lenders, the SBA aims to reach lower-income communities and minority-owned businesses that are often overlooked by traditional lenders. These loans come with low interest rates, six-year terms. and loan amounts up to $50,000.
Community Advantage Loans
The SBA’s Community Advantage loan program provides up to $350,000 in capital and is specifically designed to meet the needs of business owners in underserved communities. To qualify for an SBA community advantage loan, business owners need to have good credit and a strong business plan. However, the business’s balance sheet and amount of collateral will not affect eligibility.
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By offering crowdfunded loans with 0% interest, nonprofit Kiva is working to lift barriers to capital often faced by entrepreneurs from underserved communities. To apply, you need to market your Hispanic business to the community of 1.9 million individual lenders. These lenders can then choose to lend your company as much as $15,000 and you’ll have up to three years to repay them.
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CDC Small Business Finance is a nonprofit whose mission is to provide access to affordable and responsible capital to underserved entrepreneurs, including minority, veteran, and hispanic business owners. CDC offers loan amounts of $20,000 to $350,000 with five- to 10-year terms. They also offer SBA 504 commercial real estate loans of $250,000 to $40 million.If you are looking for advice to rebuild your credit, develop your business strategy, or manage financial reports, you’ll appreciate having access to small business advisors through CDC.
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Grameen America strives to achieve racial and gender equity by providing microloans of up to $2,000 to female and minority business owners. As part of their program, borrowers can open free savings accounts with commercial banks and build personal credit as they pay off their microloans. Grameen also offers training and support to women who want to start businesses and rise out of poverty.
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The Latino Economic Development Center (LEDC) offers Hispanic small business loans of $500 to $250,000 that can be used to purchase equipment, expand a business, hire staff, or purchase inventory. The three types of loans offered by the LEDC are as follows:
- LEDC Growth Loan: Loan amounts up to $250,000 for established small businesses that have been in operation for a minimum of two years.
- LEDC Startup Loan: Loan amounts up to $20,000 for new businesses with less than two years of business history.
- LEDC Seed Loan: Loan amounts up to $5,000 for businesses with less than one year of experience and with plans to launch a company within three months of funding.
LEDC also offers free business advice and credit-building services, as well as a directory of latino-owned small businesses.
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The National Association of Latino and Community Asset Builders (NALCAB) provides funding to a network of over 200 nonprofit organizations that serve diverse Latino communities throughout the U.S. With NALCAB support, these partner organizations offer Hispanic loans, grants, professional training, and support.
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Hispanic small business loans aren’t the only way for your business to get funding. There are also minority business grants that can provide capital that you don’t have to repay. These grants are offered by federal and local government agencies, corporations, and nonprofits.
10. Grants.gov
Grants.gov is the largest database of federal grant opportunities. While most grants are not specifically targeted to Hispanic small business owners, awards are available for all types of entrepreneurs, especially those focused on healthcare, U.S. defense, and environmental protection.
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digitalundivided’s BREAKTHROUGH Program (powered by JPMorgan Chase’s Advancing Black Pathways) offers $5,000 grants to Black and Hispanic women in the Dallas, Texas area. digitalundivided also provides training and resources to help businesses understand their customers, find financing, and choose the right business model.
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The National Association of the Self-Employed (NASE) works to provide resources for all self-employed individuals, including Hispanic business owners. They offer Growth Grants of $4,000, which can be used for a variety of business expenses, including marketing, advertising, hiring employees, and expanding facilities.
Besides access to grants, becoming a NASE member allows you to connect with experts who can advise you on subjects like finance, healthcare, strategy, law, and marketing. NASE membership also gives you access to discounts on healthcare, software, tax filing, and business travel.
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Hispanic businesses located in rural areas that have fewer than 50 employees and less than $1 million in gross revenue may want to consider applying for a Rural Development Grant from the USDA. Grants vary in size and can be used for a variety of projects that aid business development in rural areas, including training, technical assistance, acquisition or development of land, building construction or renovations, equipment purchases, and pollution control.
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The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are government grants from five different federal government agencies. These competitive grants are focused around tech and science and offer up to $1 million in capital (divided into two phases) to qualified small businesses.
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You may be able to find funding for your Hispanic small business through Candid.org’s Foundation Directory Online, which contains information on over 240,000 grantmakers in the U.S. Access to the directory requires buying a monthly subscription, but you can cancel at any time.
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Comcast RISE, which stands for Representation, Investment, Strength, and Empowerment, is a grant designed for businesses that were hit hardest by COVID-19. The grant is worth $5,000 and is given to small business owners hoping to expand and recover from the effects of the pandemic. Awards go to those looking to uplift their communities with a focus on diversity, inclusion, and community investment.
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The Entrepreneurial Spirit Fund by SIA Scotch Whiskey awards $10,000 in grants to small businesses owned by people of color in the food and beverage industry. Created by Hispanic entrepreneur Carin Luna-Ostaseskis, one of SIA’s goals is to provide funding, mentorship, and community to small businesses.
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If you’re a woman entrepreneur, consider applying for the Amber Grant, named after Amber Wigdahl, who passed at the age of 19 and never got to fulfill her business dreams. Each month, at least $30,000 is given in Amber Grant money. Applying takes just a few minutes and winners are announced by the 23rd of the following month.
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In addition to the grants and loans, there are organizations that can provide technical assistance, training, workshops, and networking opportunities to Hispanic businesses. Below are some you may want to check out.
digitalundivided
With a focus on assisting Black female and Latinx business owners, digitalundivided offers virtual training and a fellowship program for entrepreneurs. It also offers a pre-accelerator program for tech-enabled startup founders who have already begun to build their startup, are pre-revenue, and need assistance in developing their business model, marketing, and strategy.
Minority Business Development Agency
The Minority Business Development Agency is an advocate for Hispanic and other minority-owned businesses, and offers research, conferences, and resources to help entrepreneurs. Its Enterprising Women of Color Initiative is aimed to help minority women succeed in business through various offerings.
USHCC
The United States Hispanic Chamber of Commerce actively promotes the economic growth, development, and interests of Hispanic-owned businesses. Members have access to events and business resources to support them in their growth. In addition, members get listed in the Chamber’s online Hispanic business directory.
SCORE
SCORE is a national organization that connects business owners to free mentors to help them learn and grow their companies. SCORE also offers free workshops and a robust online database of useful business content.
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Looking for — and applying for — a Hispanic business loan can feel like an overwhelming task. Here are some ways to simplify the process.
Consider Your Options
Before applying for a small business loan, it’s a good idea to take a look at your credit profile and business financials, as this will give you an idea of what type of loan you might qualify for. If you have excellent credit, solid revenue, and have been in business at least two years, you may be able to qualify for a long-term, low interest loan from a bank or SBA lender. If not, you may want to look into financing offered by lenders and grantmakers listed above, as well as online lenders (who often have less strict qualification requirements for loans).
Determine How Much Money You Need
To figure out how much of a loan you need to start or grow your Hispanic business, consider how you would like to use the funds from a loan, then create a detailed budget for your project, adding in some padding to account for unexpected expenses.
Consider the Best Location for Your Business
If you haven’t yet launched your business, consider what might be the best environment for doing so. You may want to explore the best metros for minority businesses, since they may have established communities of hispanic business owners and resources to help you.
Gather All Your Paperwork
Whatever type of funding you decide to pursue, you will likely need to supply an extensive amount of information about your business in order to apply. This often includes:
- Business EIN
- Industry
- Entity type
- Business license and permits
- Annual business revenue and profit
- Bank account statements (personal and business)
- Personal and business tax returns
- Balance sheet
- Proof of collateral
- Accounts receivable and payable reports
- Existing debt
- Commercial lease
- Purpose of the loan/grant
- Business plan
This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.
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All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each provider’s discretion. There is no guarantee you will be approved or qualify for the advertised rates, fees, or terms presented. The actual terms you may receive depends on the things like benefits requested, your credit score, usage, history and other factors.
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All loan terms, including interest rate, and Annual Percentage Rate (APR), and monthly payments shown on this website are from lenders and are estimates based upon the limited information you provided and are for information purposes only. Estimated APR includes all applicable fees as required under the Truth in Lending Act. The actual loan terms you receive, including APR, will depend on the lender you select, their underwriting criteria, and your personal financial factors. The loan terms and rates presented are provided by the lenders and not by SoFi Lending Corp. or Lantern. Please review each lender’s Terms and Conditions for additional details.
Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website on credit (consumer.ftc.gov)
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.¹
SoFi’s Insights tool offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score provided to you is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
Personal Loan
SoFi Lending Corp. (“SoFi”) operates this Personal Loan product in cooperation with Engine by MoneyLion. If you submit a loan inquiry, SoFi will deliver your information to Engine by MoneyLion, and Engine by MoneyLion will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Engine by MoneyLion, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.Personal loan offers provided to customers on Lantern do not exceed 35.99% APR. An example of total amount paid on a personal loan of $10,000 for a term of 36 months at a rate of 10% would be equivalent to $11,616.12 over the 36 month life of the loan.
Student Loan RefinanceSoFi Lending Corp. (“SoFi”) operates this Student Loan Refinance product in cooperation with Engine by MoneyLion. If you submit a loan inquiry, SoFi will deliver your information to Engine by MoneyLion, and Engine by MoneyLion will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lender’s and/or partner’s conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Engine by MoneyLion, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page as well as our Student Loan Refinance page. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.
NOTICE: The debt ceiling legislation passed on June 2, 2023, codifies into law that federal student loan borrowers will be reentering repayment. The US Department of Education or your student loan servicer, or lender if you have FFEL loans, will notify you directly when your payments will resume For more information, please go to https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf https://studentaid.gov/announcements-events/covid-19
If you are a federal student loan borrower considering refinancing, you should take into account the new income-driven payment plan, SAVE, which replaces REPAYE, seeks to make monthly payments more affordable, and offers forgiveness of balances that were originally $12,000 or lower after 120 payments, among other improvements. Also, please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans, such as SAVE, or extended repayment plans.
Auto Loan RefinanceAutomobile refinancing loan information presented on this Lantern website is from Caribou, AUTOPAY, Engine by MoneyLion, and each of Engine’s partners (along with their affiliated companies). Caribou, AUTOPAY, and Engine by MoneyLion pay SoFi compensation for marketing their products and services on the Lantern site.
Auto loan refinance information presented on this Lantern site is indicative and subject to you fulfilling the lender’s requirements, including but not limited to: credit standards, loan size, vehicle condition, and odometer reading. Loan rates and terms as presented on this Lantern site are subject to change when you reach the lender and may depend on your creditworthiness, consult with the lender for more details. Additional terms and conditions may apply and all terms may vary by your state of residence.
Secured Lending DisclosureTerms, conditions, state restrictions, and minimum loan amounts apply. Before you apply for a secured loan, we encourage you to carefully consider whether this loan type is the right choice for you. If you can’t make your payments on a secured personal loan, you could end up losing the assets you provided for collateral. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on the ability to meet underwriting requirements (including, but not limited to, a responsible credit history, sufficient income after monthly expenses, and availability of collateral) that will vary by lender.
BankingSoFi Lending Corp. (“SoFi”) operates this website in cooperation with Engine by MoneyLion presenting promotions for products and services offered by other banks, lenders, and financial institutions. If you select a promotion above, you will be connected to the website of the company offering the product. The promotions presented on this site are from companies that pay SoFi and Engine by MoneyLion compensation for marketing their products and services. This may affect whether a provider is featured on this site and could affect the order of presentation. Lantern and Engine by MoneyLion do not include all providers in the market or all of their available offerings. Click to learn more about Engine’s Licenses and Disclosures, Terms of Service, and Privacy Policy.
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