In partnership with CommunityNEXT, Hebrew Free Loan offers three different funding options for Jewish small business owners across the state of Michigan.
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Signature Loans |
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Community Bank Partner Loans |
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Entreprenurial Loans |
Overview |
For businesses too undercapitalized to qualify for a bank loan, but could benefit from and have the ability to re-pay an interest-free loan. After the completed documents are returned to the office, HFL’s small business loan committee reviews the requests, interviews the borrower, and makes their decision to grant or deny the loan. |
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Loans are secured by traditional means through a community bank partner. HFL guarantees a portion of the collateral for the loan, assisting businesses with sound concepts but few resourcemove forward in a tough credit period. |
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HFL has partnered with Wayne State University’s TechTown, a business incubator offering new and existing businesses tools to grow and succeed. Applicants are required to enroll in TechTown’s SmartStart program, which provides a myriad of consultants for mentoring, product development, and business plan development. |
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Eligibility |
• Two co-signers required
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• HFL pledges collateral of up to 25% of the loan amount
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• HFL provides up to $25,000 in loan capital
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Contact |
Laurie Banks
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Jeff Kopelman
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Jack Miner
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