Apply for a Loan
Applying is Easy
Use your existing application materials and we’ll get back to you ASAP.
The easiest and fastest way to raise your debt capital is by applying directly to a bank, credit union, or community lender.
After working with you on your application packet, the lender can then bring in HAF+WRCF to help with additional capital or to support flexible terms.
We are happy to help if you’re not sure where to begin.
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Find out more about our mission investing opportunities
Application
1.
Pre-Screening
Submit your application packet for pre-screening. Please use your existing materials; there is no need to create new content for us.
[About 1 Business Day]
2.
Referral to Lending Partner
We collaborate with financial institutions on all loans. With your permission, we’ll share your application with one of our preferred community lending partners.
[About 2-5 Business Days]
3.
Internal Review
We will review your project and organization to ensure they align with our strategy and values.
[About 1-3 Weeks]
4.
Executive & Board Approval
Our Executive Leadership Team, Investment Committee, and Board of Directors will make final decisions, and we will notify you.
[Quarterly]
If you still want to apply directly to HAF+WRCF, please send us a Loan Request along with as much of the documentation below as you have available.
Please don’t worry about creating new materials just for us; we can get started with what you have ready, and will be in touch to learn more. See loan request and attachments list below.
Email your loan request and attachments to loans@hafoundation.org.
Loan Request and Attachments List
Loan Request
- Applicant Institution:
- Project Title:
- Preferred Terms
- Amount:
- Term Length:
- Collateral (if any):
- Other Detail (if needed):
- Uses. The loan will be used to finance the following: (e.g. real estate, working capital, equipment)
- Timeline. When are you hoping to have the loan? What are any other key project milestones we should know about?
Attachments
- Project / Program Description, and/or Annual Report, and/or Organizational Strategy. Or just write a short “Shift Statement,” i.e. “This loan is part of a strategy based on [Current state/situation you’re trying to change] that seeks to help create change that looks like [Envisioned future]”
- Project Budget or Financial Projections, including all confirmed or proposed sources and amounts of capital for project or program.
- Organizational Budget, current year
- Financial statements for past 2 years:
- Statement of Financial Position (Assets, Liabilities, Net Assets) or Balance Sheet
- Statement of Activities (Revenue, Expenses, Net Assets) or Income/Profit & Loss Statement
- Tax filings, if available (usually form 990) for past 1-2 years
- Financial management / Internal Controls policies: (1) staff and governing board/council financial management and oversight roles, (2) internal controls policy statement.
Process
Assessment & Timeline
Assessment
Along with our lending partners, we review loan and project materials to evaluate if the project is feasible and if the loan is repayable. We also internally assess if the project or organization are aligned with HAF+WRCF goals and values.
- Is the proposed project feasible?
Applicant experience & resources sufficient to accomplish goals, project design & timeline realistic, etc. - Would the applicant be able to repay this loan / what is the repayment plan?
Would the loan be collateralized (not required)? - Does the applicant institution practice sound financial management?
No recent history of fraud; limited difficulty with cash flow; no recent, current, or impending financial or operating crises. - Does the applicant institution have strong financial management team and sound internal controls?
- Are applicant institution’s financial reporting and tax filings (where needed or available) timely, accurate, and complete?
- Is this project a strategic and values fit for HAF+WRCF?
Timeline
- Pre-screening [1 day]
We will scan your application packet to make sure your project and organization are eligible for HAF+WRCF financing. - Lending Partner [2-5 days]
Because our Investment Policy Statement requires us to collaborate with financial institutions on all loans, if the project looks “lendable” we will ask your permission to share your application packet with one of our preferred community lending partners (‘underwriters’). You will then have to complete their official loan application packet. However you will have already answered many of their questions by pulling together the materials below, and can just copy or repurpose these for the ‘official underwriter’. - Rubric [1-3 weeks]
While the loan underwriter works with you on the official lending process, we will schedule an internal discussion with members of our Programs and Community Partnerships team to review your project and organization for alignment with our Strategy and Values. - Executive & Board Review/Approval [Quarterly]
When staff are ready to recommend that a loan be approved, it will go to our Executive Leadership Team, then the board Investment Committee, then the full Board. These meetings take place quarterly, however we are able to handle rapid-response requests when needed.
Get in touch
Find out more about our mission investing opportunities