Committed to Ensuring Your Success

At the Harlem Entrepreneurial Fund (HEF), we are committed to ensuring the success of our small business clients. Our personal touch approach makes the loan process quick and easy as we listen to our clients' passion for their business.

HEF meets small business owners where they are in their business journey. We consider the character of a business owner, as well as the strength of their business plan and financial projections. 

Whether you have been established for a few months or a seasoned entrepreneur, you may qualify for our microloan as HEF understands that even small loan amounts can make a big difference for a business.

Financial Support Tailored to Your Needs

HEF Loan Products

HEF Microloan Overview

HEF is a federally insured United States Treasury-backed Community Development Financial Institution (CDFI) providing micro-financing to minority small business owners north of 42nd Street. 


By finalizing your business plan and providing requested financial and legal documents, HEF can approve you for a loan in less than a week and provide your business with funding in less than eight weeks, with loans from $500 to $150,000 available (1-3 year terms at 4-12% fixed interest rate).


HEF Microloans may be used for working capital, equipment, machinery, or inventory purchases.

HEF Microloan Documents Needed to Apply

  • Complete loan app with $125 processing fee

  • Business certificates, permits, and licenses

  • LLC publishing docs, signed lease, and insurance

  • Business plan and 2 years of financial projections

  • Last 2 years of income and expense projections

  • Last 2 years of personal and business tax returns

HEF Credit Builder Loan Overview

Small business owners with less than perfect credit can improve their credit score with HEF credit builder loans. If you have a low credit score, HEF will give you a fresh start to help you restore your credit. 


Typical credit builder loan interest rates can be as high as 36%, but the interest rate on a HEF credit builder loan is only 12%. 


Think of the HEF Credit Builder Loan as training wheels for your credit. HEF also offers one-on-one guidance on continued credit-building techniques.

HEF Credit Builder Documents Needed to Apply

  • Complete loan app with $75 processing fee

  • Business certificates, permits, and licenses

  • LLC publishing documents, signed lease, and insurance

  • Business executive summary

  • Business bank statements (3 months)

  • Last 2 years of personal and business tax returns

Meet The Team

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Ericka Powell-Sinclair

Director of Loan Fund and

Portfolio Management


E.Hamil Douglas

President & CEO of Harlem Commonwealth Council, Inc.

Managing Director of HEF

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Terri-Ann Smith

Director and Senior Loan Officer

Positioning Your Business to Win

Our dedication to the success of small business owners also reflects HEF’s integrated approach to micro-lending in which business and financial education are essential components of our business strategy – to prepare business owners for the trends and forces that will shape their future and position them to win.

Record of Success







Giving the Opportunity to Grow and Scale

Even if a business owner is starting to build up their credit, capacity, and collateral, we help small business owners determine which products or services best fit their needs.

Questions? Call 212-749-0900 ext. 119