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EXECUTIVE DIRECTOR UPDATE
It has been 1 year since we completed our very first loan and we are so excited about the trajectory we are on! Last year was a year of learning. This year will be a year of growing. HFLSD will continue to focus on creating opportunities for outreach, working with other nonprofits, and developing a constant channel for loan recipients to receive the financial help they need. We have maintained a 100% payback rate and know that our biggest investment is the people we serve. We invest in their education, their healthcare needs, their safety concerns, their housing needs, and their overall well-being. And as Meir, one of our Debt Consolidation Loan Recipients shares, “My HFLSD loan will help me to reach my goals more quickly and to help my family on our path to financial security. I look forward to eventually joining the HFLSD Full Circle Club, and to pay this mitzvah forward so that others can benefit from this amazing opportunity.” We strive to make sure that every one of our loan recipients feels like a part of the HFLSD family, with the goal that one day they will have the ability and desire to move from loan recipient to donor.
Here are some key updates I am pleased to share:
- HFLSD received over 125 cumulative loan inquiries and has a 54% inquiry to application ratio, with 37% of overall applicants becoming loan recipients. In the first quarter of 2022, the application to loan ratio increased from 37% to 56%.
- We surpassed our monthly loan goal and have already helped 10 people on their path to financial freedom.
- HFLSD is thrilled to welcome Tanya Hackel and Miriam Norten to our Board of Directors – read about the incredible experience they bring to HFLSD on our website.
- Working with F&L Media, we created an impactful video sharing the story of our loan recipients and the message of HFLSD – watch your inboxes for the video premiere!
- The HFLSD Development/Fundraising committee is working on ways to engage and outreach to vertical referral markets including Healthcare, IVF, Adoption and Small Business channels, to enhance our messaging to those communities. Our goal is to have multiple loans granted for every loan category we offer. Please reach out if you have any ideas for us!
HFLSD is excited about the path we are on! Read about HFLSD loan recipients on our “Borrower Stories” page and learn how HFLSD has helped them on their paths. “With the support of HFLSD, the ominous clouds started to dissipate,” shares Max, a Personal Needs Loan Recipient. Our goal is to provide dignity and make all our loan recipients feel relief and a sense of freedom.
HFLSD is building community and creating relationships that will live on for decades to come. Thank you for helping us create this legacy for our community!
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Mindi Frankel, Executive Director |
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