COVID-19 emergency loans seek to stem hardship | The Community Foundation of the Mahoning Valley is partnering with HFLA of Northeast Ohio in the fund.
The Community Foundation of the Mahoning Valley is partnering with HFLA of Northeast Ohio to meet the needs of residents experiencing hardship due to COVID-19. Together, the organizations created an interest free emergency loan fund specifically for the Mahoning Valley, available to both individuals and businesses.
The Mahoning Valley loan fund is a revolving loan, so assets are repaid by borrowers to be borrowed without interest by new individuals and businesses in the future.
Community Foundation funding was a part of a $50,000 collaborative grant made with the Raymond John Wean Foundation to seed the interest-free loan fund.
“As a community foundation, it is our responsibility to make our resources available to the community,” said Shari Harrell, CFMV president. “This interest free emergency loan fund is one way we are working to support local residents, and we urge those in need to apply today.”
Individuals interested in learning more about HFLA of Northeast Ohio’s COVID-19 emergency loan program and finding out if they qualify for an interest free loan can visit the organization’s at website at www.interestfree.org….
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