Free Loan Programs

---

Dedicated Loan Committees

FLAG loans are made either in conjunction with a specific Program or through a customized arrangement.

All loans are structured and managed by a dedicated Loan Committee which consists of the Entrepreneur, a Guarantor, and a Mentor.
If the Mentor is not also a FLAG Loan Officer, an additional person who is a Loan Officer will be a member of the Loan Committee.
​Each FLAG loan has its own Loan Committee which remains in existence from the time of loan origination through its repayment.

Entrepreneur

The Entrepreneur is the individual (or the representative of the business entity) seeking to borrow money from FLAG.

Any Entrepreneur may seek a FLAG loan irrespective of age, gender, race, religion, sexual orientation, national origin, immigration status, or prior incarceration.

Neither good credit rating, collateral, nor established business history is required for a FLAG loan.  FLAG loans are based on merit along with an acceptable guarantor.  

Guarantor

The Guarantor is the individual (or the authorized representative of the organization) who agrees to guarantee the loan from FLAG to the Entrepreneur.
​
​Guarantors must be approved by FLAG.

Faith communities, businesses, and philanthropies, as well as individuals, are encouraged to be Guarantors.

​Angel Guarantors who provide financial backing but do not participate in Loan Committees are also appreciated.

Mentor

The Mentor is an individual approved by FLAG to help the Entrepreneur in specific ways that are identified by the Loan Committee.  Such help may be provided by giving advice, referral to other resources, and/or by other means appropriate to the circumstances of the Entrepreneur.

A Mentor may also be a FLAG Loan Officer, but the two functions are different.  If the Mentor is not a Loan Officer, a FLAG Loan Officer will be an additional member of the Loan Committee.