What We Do

EAF client Adele Caillet works at her tailoring and African apparel business, Amber by Adele Tailoring. (Amanda Mae Photography for JFS of Washtenaw County)

Our Services

Through a mix of in-person and virtual services, EAF and our partners meet each entrepreneur where they are, helping them to increase their capacity to start or grow their business.

We provide business technical assistance and training including small business workshops and advisory services that are culturally and linguistically appropriate and responsive to the unique needs of each entrepreneur.

We provide access to capital through affordable loans coupled with financial and credit education. Our loan products are tailored for those who are low-income, have little or no credit history, and are unable to access credit from mainstream financial institutions.

We facilitate market opportunities for businesses to sell their goods and services, helping them increase revenue, expand their customer base, and build business acumen.

Through business ownership, refugees work toward financial independence so they can provide for themselves and their families and contribute to their local economies and communities.

Our Loan Products

EAF’s loan products are tailored for those who are low-income, have little or no credit history, are unable to access credit from mainstream financial institutions, or are precluded from paying interest because of religious beliefs.

Readiness Loan

Prepare to launch your business and build your credit

LOAN AMOUNT

Up to $1,000

TERM

Up to 12 months

RATE

9%

USE OF FUNDS

Training, licensing, or certification expenses directly related to your
business goals

Examples: Food handler license, driver’s license, cosmetology certificate, professional training

PURPOSE
  • Establish or repair your credit
  • Get essential credentials
    to qualify for future selfemployment
    opportunities
  • Prepare to apply for a larger microenterprise loan
BEST FOR

Aspiring entrepreneurs in the early stages

Gig Economy Loan

Unlock flexible income through independent contract work

LOAN AMOUNT

Up to $20,000

TERM

Up to 48 months

RATE

9%

USE OF FUNDS

Purchase a vehicle or cover startup costs for gig economy
work

Examples: Driving for Uber, Lyft, DoorDash, Amazon Flex; other freelance services

PURPOSE
  • Increase income through
    flexible work
  • Supplement wages or create
    an income bridge to launching
    your own business
BEST FOR

Freelancers and independent contractors pursuing gig-based income

Microenterprise Loan

Fuel your business launch or expansion

LOAN AMOUNT

Up to $25,000

TERM

Up to 48 months

RATE

9%

USE OF FUNDS

Business startup or growth expenses

Examples: Working capital, inventory and supplies, tools and equipment, furniture and fixtures, and minor renovations

PURPOSE
  • Start, grow, or stabilize a
    small business
  • Build long-term incomegenerating
    capacity
BEST FOR

Entrepreneurs with a clear business plan and commitment to growing their enterprise

 

 

EAF also offers a Fixed Fee Loan, a financing option that does not charge interest, but instead includes an administrative fee to cover the cost of providing the loan. This fee is fixed (it won’t change) and is clearly explained up front, so you know exactly what to expect.

Learn more

EAF Strategic Plan

Learn more about HIAS Economic Advancement Fund's strategic goals for 2024-2026.

Partner with Us

Help further our mission of empowering refugee entrepreneurs.