Loan Description: Business Loan
Addresses small businesses and start-ups 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.
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 $10,000.
- Each owner of the company having a 20% or more interest, shall guaranty the loan.
- 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).
Learn more: How to Apply
Download application below.
Featured image: Businesses Loan Recipient, Angela and her daughter; Owner of PipeNHot Grill.