$75,000 emergency loans available to nonprofits at 0 to 3% interest
The Center for Nonprofit Management will offer loans, with funds givien by Dallas' Meadows Foundation to agencies affected by the recent economy.
To qualify for a loan, an organization must:
- Be a 501(c)(3) organization, incorporated and operating in the state of Texas;
- Have a Board of Directors with at least five unrelated members, and be empowered to borrow;
- Be able to submit monthly financial statements and cash flow projections;
- An applicant must be creditworthy.
Terms & Conditions for the Community Response Loan Fund:
- Amount: Up to $75,000.
- Interest Rate: Determined at the time of loan approval, but generally between 0% and 3%.
- Maturity: Up to 4 years. Repayment schedule is flexible, based on the borrower’s projected cash flow.
- Collateral: Unsecured.
- Loan Administration Fee: No Fee.
Before submitting a formal application, complete the Pre-Qualification Scan to find out if you might qualify for a loan.
Loan requests are reviewed and approved by the Nonprofit Loan Committee, which meets monthly. In general, a loan request is reviewed by the committee approximately 20 business days after a complete loan application package is submitted.
For more information about the Community Response Loan Fund, contact Ryan Smith, Associate Director of Financial Services, at email@example.com or 214/826-3470, ext. 248.