HFLA Small Business Emergency Loan

The HFLA Small Business Emergency Loan goes up to $5,000 and are to support small businesses during this uncertain time.

The loan can be used to cover payroll, rent, and other expenses while business is slow (or paused).

To be eligible for these loans:

  • The business should have been in business for a minimum of 12 months.
  • The business owner is required to meet with an HFLA business loan volunteer* to discuss how COVID-19 has affected their business.
  • The business owner needs to provide a recovery plan.
  • The business owner is required to check in periodically for support.

*(HFLA business loan volunteers consist of bankers and current and retired business owners.)

Loans will be made to the business; business owner(s) (who own more than 20%), and business owner(s) will guarantee the loans. These loans are not meant to replace Disaster Relief SBA loans or other funds that business owners may be eligible for, but rather to offer additional support.

As with all of our loans, we will be doing our due diligence to make sure that we are making good lending decisions. Sending in an application does not guarantee an approval. Please contact us at team@interestfree.org if you have any additional questions about eligibility or requirements or would like to apply. The loan application process will be “touch free.”

The Small Business Emergency Loan has been generously funded by the Burton D. Morgan Foundation.

More resources for small business and individual assistance can be found on our COVID-19 Resources post.

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