Hebrew Free Loan Association, Hispanic Center report growing interest and lending partnership

Carrie Miller, executive director of the Hebrew Free Loan Association (HFLA), updated the commission on a partnership with the Northeast Ohio Hispanic Center for Economic Development that provides business technical assistance and interest‑free loans to entrepreneurs.

Miller said the Hispanic Center and related programs serve more than 400 clients annually, have supported the creation of roughly 200 new businesses and have facilitated about $18,500,000 in startup and growth capital over a recent period. As part of the built‑environment partnership, Miller said HFLA received 14 applications and approved nine loans that totaled about $251,000; she said the partnership has increased HFLA’s business loan cap for this work from $20,000 to $40,000, enabling larger loans for entrepreneurs.

Miller described HFLA as a nonprofit lender that offers interest‑free loans and individualized underwriting, and she emphasized the value of co‑located technical assistance — the Hispanic Business Center (HBC) provides business consultation and financial assessments to applicants. Miller said the partnership has helped businesses advance from startup to growth stages, producing measurable sales and employment increases in neighborhood commercial spaces supported by the initiative.

Miller said the program’s lending performance has improved since 2023 and that the partnership adds value by combining technical assistance, on‑the‑ground community engagement and patient lending terms. The commission and presenters discussed ways the county might coordinate with these partners on procurement, vendor fairs and events to support MBE growth.