Why must I come to a loan committee?
All final loan decisions are made by HFLA of Northeast Ohio’s loan committees. These decisions are based on your financials, but also off of you and your story. We want to meet our borrowers and understand their situations! We meet twice a month and require our applicants to come in for a brief (15-20 minute) interview. If you are far out of our service area or have difficulty with transportation, our programmatic staff will make alternate arrangements with you.
How long does it take to process an application?
It typically takes 10-15 business days to process a complete application. However, this process may take longer if an application is turned in without complete information or supporting documentation.
Business loan requests are more extensive and typically take twice as long, 20-30 business days.