HFLA helps people in Northeast Ohio without access to fair and affordable credit; it has made the difference of someone going to college, fixing an automobile to get to work, and starting a business which employs ten people in the community. Its staff is considerate and works tirelessly to help others help themselves.
I first learned about HFLA about 2 years ago and have been deeply impressed by its effectiveness, compassion, and continued innovation as it strives to provide the best resources to its loan recipients. The staff are caring, deeply knowledgeable about resources and financial counseling services, and also discerning about when a loan should be recommended or not. This organization strives to help the people of Northeast Ohio and also address the causes of financial distress as well as immediate needs.
I originally started volunteering with HFLA of Northeast Ohio after having worked closely with a student who received a college loan through the organization. I continue to be inspired by our applicants and by the talent and passion of the staff. HFLA is helping bridge critical financial gaps in Northeast Ohio - one loan, one person, and one business at a time.
I have had the privilege of working with this organization the last 10 years (of its more than 113 years of helping NE Ohioans). HFLA of Northeast Ohio has a significant impact on its borrowers' lives by assisting them in times of need, with a hand up--not a hand out. An interest-free loan has helped individuals start businesses, become the first in their families to attend college, and helped individuals stay in their homes. The organization has recently helped people get out from under predatory loans of up to 500% interest and get back into being credit-worthy borrowers from traditional banks. The organization has increased its lending in the past year by three times and has almost $1,000,000 outstanding in Northeast Ohio.
It's very gratifying to see how zero-interest loans can really make a difference in people's lives. The folks at HFLA are extremely kind, personable, and caring, and want to help people get out of unhappy financial situations with no-interest loans. There is no catch -- HFLA is not a business trying to make a profit, but an organization that for 113 years makes zero-interest loans.
I began volunteering for HFLA about eight years ago. From the first loan committee meeting, I was inspired by the enormous impact an interest-free loan had on our clients. So often, our loan was the difference between success and failure: going to college or staying home, fixing a car or losing a job, escaping a payday loan (as high as 700% interest) or declaring bankruptcy. There are over 25,000 stories like this in Northeast Ohio! Because the repayment rate is over 97%, the money recycles for generations (the organization is 111 years old as I write this). I can't think of an organization that accomplishes more with less.
Review from Guidestar