Frequently Asked Questions
What are the eligibility requirements?
Small business owner:
- Must live or have a small business in Waco, Bellmead, Beverly Hills, Lacy Lakeview, or Robinson.
- Is not currently eligible for a small business loan from a traditional bank or credit union.
- Is not currently in foreclosure, active bankruptcy, or under any local, state, or federal tax liens.
- Is not engaged in the business of adult entertainment.
What are the interest rates?
The interest rates are fixed-rate and range from 6% to a maximum of 9% with monthly payments that will work with your budget.
What paperwork do I need to provide to make a loan?
McCIF does require financial documents about yourself and your small business. A checklist will be provided to you by a Loan Officer on your first or second visit. Don’t hesitate to call and ask for an appointment.
If you do not have the paperwork required for McCIF to consider a loan, we offer business consultations, free of charge. You will be assisted with skills and ideas on how to develop and grow your business. Even if you are not currently in need of a loan, we’ll be here to help you with your business skills.
Is collateral required for a loan?
Yes, McCIF does require collateral for each loan we make.
Do you have a map of the area you serve?
Is your IRS 990 available?
Want more information?
Please fill out the form below and click on Submit:
605 Austin Ave
Waco, TX 76701