At a glance
From its website, read 2 Nov 2026BetterFi is a loan fund based in Chattanooga, Tennessee. Its website describes credit-builder loans, small-dollar emergency loans, personal loans and 1 other loan type. Where it lends: Statewide, with a focus on the South Cumberland Plateau incl. Grundy County and the area around Hamilton County. Consumer loan APRs stated on its site range from 10% to 35.5%.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (931) 313-9942 source |
|---|---|
| hello@betterfi.co source | |
| Website | www.betterfi.co |
| Office (official list) | 5646 Brainerd Rd Ste C, Chattanooga, TN 37411 |
What their website says about applying
Copy of your business license
source3 months of business and personal bank statements (or connect via Plaid)
sourcewith some brief information about your location, your business, business history, and your business credit need
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Loans (general) | Rate: 10%–35.5% APR | with effective APRs 10-35.5% | source |
| Credit-builder loans | Rate: 11.07%–15.32% APR | APR will vary between 11.07% and 15.32%. | source |
| Loans (general) | Term: 6 mo–18 mo | Terms are typically between 6 and 18 months | source |
| Credit-builder loans | Term: 5 mo–10 mo | whether you select 5 or 10 month terms | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 1 Jul 2026 |
| RSSD ID | — (none listed) |
| Address | 5646 Brainerd Rd Ste C, Chattanooga, TN 37411 Directions (Google Maps) |
| Website | www.betterfi.co |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 6 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. Business loan amounts and online application availability are not stated on the pages fetched. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Credit-builder loans | — | $500 over 5 months will cost $15 on top of the $500 savings goal. | source |
| Small-dollar / emergency loans | — | We can offer below-market-price emergency credit to individuals who can pay via payroll deduction | source |
| Personal / consumer loans | — | We provide affordable installment loans | source |
| Small-business loans | — | If you have a side hustle, microenterprise, or small business with positive cash flow (you’re making money) and have a credit need, BetterFi may be able to assist. | source |
Loan sizes
Service area
Statewide, with a focus on the South Cumberland Plateau incl. Grundy County and the area around Hamilton County
BetterFi serves statewide, but has a focus on the South Cumberland Plateau area including Grundy County and the area around Hamilton County.
source
Counties this matches: Grundy County, TN, Hamilton County, TN
Borrower focus
- Not stated on the pages we read.
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - Is there a minimum credit score, and do you consider borrowers with little or no credit history?
Their website does not say what credit history they accept. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - Can I apply online, or do I need to call or visit?
We found no online application on their website. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$323,500 in 2 awards from the U.S. Treasury's CDFI Fund, 2021 (CDFI Rapid Response Program; Small Dollar Loan Program).
| Round year | Program | Amount |
|---|---|---|
| 2021 | CDFI Rapid Response Program | $200,000 |
| 2021 | Small Dollar Loan Program | $123,500 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $369,377 |
|---|---|
| Total liabilities | $5,252 |
| Net assets | $364,125 |
| Total revenue | $136,745 |
End-of-year figures from the Form 990-EZ this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 82-3083483, filed as “BETTERFI”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The filing shows no amount on the notes-and-loans line; a loan fund can report its loans on other balance-sheet lines, so this is not a loan figure. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue |
|---|---|---|---|
| Dec 2021 (990) | $545,974 | $411,361 | $369,157 |
| Dec 2022 (990) | $467,870 | $464,684 | $234,469 |
| Dec 2023 (990-EZ) | $369,377 | $364,125 | $136,745 |
Total assets fell 32% from Dec 2021 to Dec 2023. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets, latest IRS Form 990 | $369,377 | Larger than 0% of the 7 other certified loan funds and venture funds in Tennessee with a matched Form 990 (median $48.6M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Form 990 total assets | certified loan and venture funds with a Form 990, in Tennessee | 7 | larger than 0% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).
Other certified CDFIs in Chattanooga and Tennessee
- Brightbridge, Inc.Loan fund · Chattanooga, TNOfficial list only
- Trust Federal Credit UnionCredit union · Chattanooga, TNAuto / vehicle loans, Home mortgages, Personal / consumer loansVerified
- Affordable Housing Resources, Inc.Loan fund · Nashville, TNHome mortgagesVerified
- Carroll Bank and TrustBank or thrift · Huntingdon, TNAgriculture / farm loans, Auto / vehicle loans, Commercial real estate loans, Equipment loans…Verified
- Centennial BankBank or thrift · Trezevant, TNAgriculture / farm loans, Auto / vehicle loans, Commercial real estate loans, Equipment loans…Verified
- Citizens Savings Bank and Trust CompanyBank or thrift · Nashville, TNCommercial real estate loans, Home mortgages, Personal / consumer loans, Small-business loansVerified
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CDFI Atlas is not a lender and does not give financial advice. Inclusion is not an endorsement, and lenders have not reviewed or approved these pages. Disclaimer.