HEF Small Business Loan

The HEF Small Business Loan will help you take your business to the next level

Growing a business takes dedication and vision, and if you have been leading your business for 1 - 2+ years and are ready to increase your working capital, expand your inventory, invest in crucial machinery and technology, bring in additional staff, or improve your workspace, HEF's flexible funding has you covered.

What sets HEF apart is our holistic approach to eligibility assessment. We go beyond just personal credit scores and delve into the character and viability of your business and your available cash flow. This unique perspective enables us to support entrepreneurs when other lenders might hesitate. As one of the top lenders in Harlem, HEF is committed to helping small business owners realize their dreams of growth and prosperity.

We 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. 

If you are ready to scale your business and achieve your vision, then the HEF Small Business Loan is right for you.

Financing Terms

  • Loan Amount

    Up to $250,000

  • Loan Terms

    1-5 years

  • Interest Rate

    4-12% Fixed

Loan Use

  • Working Capital

  • Marketing & Advertising

  • Equipment & Machinery

  • Leasehold Improvements

  • Inventory Purchases

Eligibility

  • Must be in business 2+ years

  • Business must generate revenue within the past 2 years

  • Have at least 2 years financial statements

  • Must file personal and business taxes within the past 2-3 years

  • No excessive business credit card debt

Additional eligibility requirements may apply.

Hear from our past client: Lolo’s

Lolo’s has been locally owned and locally operated since 2014, with instrumental support through a small business loan from HEF. The LoLo’s brand is now expanding with a new location, Lolo’s On the Water.

“When I married Chef Raymond Mohan, I knew that we would end up starting a restaurant.” (Leticia Skai Young)

Leticia Skai Young was born in East Harlem. As a Prep for Prep graduate, she attended the Brearley School for Girls on the Upper East Side of Manhattan. She is a graduate of the University of Pennsylvania and the Entrepreneurship program of ICC, formerly known as French Culinary Institute, Columbia University’s Community Business Program, and is a 10k small business Goldman Sachs Alum.

Lolo’s Seafood Shack opened its doors in October 2014. LoLo’s is a way for Leticia to creatively express her passion for travel and island flavors.  The LoLo’s experience is inspired by the locally owned, locally operated seaside eateries; referred to as lolos, they encountered while living abroad in the British West Indies. When Young-Mohan and Mohan stumbled upon a vacant restaurant space with a backyard a few years later, they decided that “Harlem could use its own little lolo,” according to Young-Mohan. The menu features a variety of nostalgic offerings from island-styled BBQ to coastal comfort foods of the Cape to Caribbean Street eats like johnny cakes.

“I am living proof that any young lady with a dream from Harlem to the Caribbean and the diaspora beyond can live out their dreams.”

Ready to take the next step?

Start the loan process through the button below, or contact us at (212) 749-0900 ext. 119 to learn more.