Loan Description: Business Loan

HFLA Business loans are intended to addresses small business and start-up need for capital when traditional lenders are unwilling to take on the risk. HFLA’s 0% interest loans enable businesses to meet demand and grow their company.

For an online application click here.

Important things to know:

  • Loan applicants must be businesses located in the 8 county service area (Cuyahoga, Geauga, Lake, Lorain, Mahoning, Medina, Portage, Summit, and Trumbull) that are unable to obtain the money from a conventional lender or other sources.
  • The maximum loan amount is $20,000.
  • Each owner of the company having a 20% or more interest, shall guaranty the loan.
  • HFLA may file a lien on the company’s assets upon loan approval.
  • Additional collateral may be requested at the discretion of the loan committee/board (Cost associated with filing a security interest in favor of HFLA is borne by the Borrower).

Required Documents:

Learn more: How to Apply

Click here to download application.  

Click here to apply online

Featured image: Businesses Loan Recipient, Angela and her daughter; Owner of PipeNHot Grill.