Preparing to Apply for Business Financing

Time in business
Desert Schools requires that a business applying for financing must have a minimum of three years of financial results. Please see our FAQs for further clarification of this policy.

If your business does not meet this requirement, the following organizations may be able to help:

Personal guarantee and credit
Desert Schools requires the personal guarantee of all business owners representing a 20% or greater share of the business, with a minimum of 51% share represented. The personal guarantee of an owner/guarantor means that that individual is personally responsible for the debt of the business, should it become unable to repay. In addition, we review the personal credit of all owners/guarantors, as evidence of satisfactory credit performance.


Business loan purposes

  • Obtain revolving working capital 
  • Obtain permanent working capital
  • Buy a new business vehicle
  • Buy a used business vehicle
  • Refinance a business vehicle
  • Finance a fleet of new vehicles
  • Buy new equipment or machinery
  • Buy used equipment or machinery
  • Refinance equipment or machinery
  • Buy an office condo
  • Refinance an office condo
  • Buy an office building
  • Refinance an office building

Five Cs
Desert Schools reviews business loan applications using industry standards common to financial institutions. The Five Cs of Credit represents Capacity, Capital, Collateral, Conditions and Character. The SBA provides helpful information on the Five Cs and preparing for business financing, on their Web site.

Equal Housing Lender Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S.Government Agency. ©2014 Desert Schools Federal Credit Union