Harlem Entrepreneurial Fund
- Nov 17, 2023
- 2 min read
Updated: Feb 17, 2024
The Harlem Entrepreneurial Fund (HEF) was established in 2007 by the Harlem Commonwealth Council to provide low-income and minority entrepreneurs with supportive loan capital and technical assistance in Harlem, Washington Heights, Inwood, and the Bronx. Lending operations began in the summer of 2008, and HEF was certified by the U.S. Treasury Department as a Community Development Financial Institution (CDFI) in 2012. Since its inception, HEF has originated 360 loans for over $9 million and helped create or retain over 650 local jobs.
Services
Capital
Credit Builder Loan
HEF Credit Builder Loan offers a low interest rate of 12%, compared to the typical 36% typically associated with credit builder loans, combined with reasonable origination fees, and a 6 to 12-month repayment period. As you repay the loan, HEF reports the information to the three credit bureaus to help increase your credit score.
Small Business Loan
As one of the top lenders in Harlem, HEF is committed to helping small business owners realize their dreams of growth and prosperity. They offer competitive interest rates and affordable origination fees for loans of up to $250,000 so that you have the funds you need to maximize your business.
Technical Assistance
Opportunity for Growth (OFG)
Opportunity for Growth is a 13 session intensive certification program based on Interise’s StreetWise MBA™ curriculum that provides entrepreneurs with business knowledge, management know-how, and networks needed to grow their established small businesses.
Growth Path
Growth Path is a business advisory service connecting entrepreneurs of color with experts in service areas highlighted below. Each business receives 40 hours of consulting from a local small business advisor.
Learn more about HEF's complete list of services on their site:
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