JumpStart grants $150,000 to Hebrew Free Loan Association to support Latinx, African-American businesses

The Hebrew Free Loan Association of Northeast Ohio is getting a jolt from JumpStart Inc. to its small-business lending program designed to support minority-owned business.

The nonprofit has granted $150,000 to HFLA for interest-free loans of up to $10,000 to support Latinx and African-American entrepreneurs needing capital but lacking access to traditional lending sources.

“We are thrilled JumpStart understands the pressing need small-business owners have for alternative lending in the form of interest-free loans,” said HFLA executive director Michal Marcus in a statement.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Jeremy Nobile.

Originally published December 10, 2019.