Unlike traditional bank loans, Kavod Fund loans don't require a minimum credit score, years of cash flow documents or collateral. But you do need to meet the following minimum criteria in order to be considered:
- You must be over 18 years old to apply for a personal or business loan.
- If you're seeking a business loan, you must have at least 12 months of operating history.
- Business loan proceeds must be used for business purposes only.
- Your business must not be engaged in any of the following activities: multi-level marketing / direct sales; illegal activities (e.g. gambling, scams); or pure financial investing (e.g. stocks)
- You cannot currently be in foreclosure, bankruptcy, or under any liens.
- You must be willing to secure an acceptable loan guarantor from your closest supporters, friends, or family.