Mount Pleasant Strengthening the Neighborhood Loan Pilot Fund
The Saint Luke's Foundation recently awarded a grant to the HFLA of Northeast Ohio to provide interest free loans to the residents on the Mt. Pleasant neighborhood who are in need of home repair or funds to purchase side yards.
Qualifications:
- Income that will allow repayment of the loan
- Co-signer
- Up to $5000
- Quotes from an insured and bonded contractor – recommendations and help with quotes can be gotten from Cleveland Housing Network, tel:, Neighborhood Housing Services, tel:, Heights Repair Resource Center, tel:
Loan checks will be written directly to the service provider.
Perfect repayment of this loan will allow you to come back to us in the future for addition interest free loans.
For additional information and application forms visit our website www.interestfree.org or call 216-378-9042.
Buckeye & Fairfax Neighborhood Loan Fund
HFLA of Northeast receives an award of $30,000 from The George Gund Foundation to grant interest free loans in the Buckeye and Fairfax neighborhoods. Potential borrowers will be referred to HFLA via several community partners such as Cleveland Neighborhood Progress through their credit building alliance and the Key Financial Education Center as well as through PNC Fairfax Connection and in partnership with Operation Hope.
These funds will allow HFLA in collaboration with other local nonprofits to help with community development in these neighborhoods by helping individuals in need. These funds enable HFLA to expand on what they have already successfully been doing for 111 years in Northeast Ohio, interest free lending for low to moderate income individuals without access to conventional funds.
HFLA’s pace of lending more than doubled from 2014 to this year. The organization has seen growing demand for loans to help potential borrowers escape from predatory lending situations, advance careers through education and the ability to secure vehicles to have transportation for jobs. An interest free loan can often be the difference between keeping your job; being able to support oneself; allowing an entrepreneur the funds to start a business or pay the last needed dollars for college. Interest free lending allows people to help themselves, live with dignity and strengthens Northeast Ohio’s economy.
For more information got to our website, www.interestfree.org or call 216-378-9042 or email, team@interestfree.org
Lending Interest free since 1904
Planting seeds, growing communities
Cleveland Foundation Awards HFLA $35,000 Grant for Capacity Building
FOR IMMEDIATE RELEASE - October 20, 2015
The Cleveland Foundation Awards $35,000 grant to HFLA
The Cleveland Foundation awarded a $35,000 grant to the HFLA of Northeast Ohio to expand its interest-free lending program for Northeast Ohioans.
HFLA’s pace of lending more than doubled from 2014 to this year. The organization has seen growing demand for loans to help clients escape from predatory loans, advance careers through education and the ability to secure vehicles to have transportation for jobs.
Founded in 1904, HFLA supports Northeast Ohioans with a genuine need and the ability repay but no access to conventional funding. With a repayment rate over 97%, the funds lent out are repaid and re-lent over generations.
The grant from the Cleveland Foundation will enable HFLA to invest in loan software and staffing to continue to increase the volume of new loans and manage existing ones.
“The Cleveland Foundation is pleased that our grant will enhance HFLA’s ability to provide interest-free lending options to our community’s most vulnerable residents,” said Kathleen Hallissey, Director of Community Responsive Grantmaking at the Cleveland Foundation.
Over 111 years, HFLA has provided over 26,000 interest free loans in response to the diverse needs of capable and able people without access to capital.
While the local economy has improved, there are still individuals who need support from the Hebrew Free Loan Association. Though the name of the organization reflects its Jewish heritage and ideals, loans are made to individuals on a non-sectarian basis.
Lending interest free since 1904
If you would like more information about this topic, please contact Michal Marcus at 216-378-9042 or email at michal@interestfree.org.
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