Nonprofit Lending
To support the vital services that nonprofits bring to the region, the Initiative Foundation offers up to $100,000 in financing to qualifying organizations to establish or expand mission-related activities. Funds can be used for working capital, equipment acquisition, and facility enhancements.
Guidelines & Eligibility
- Loan amounts: Up to $100,000
- Financing terms: The term/amortization, loan covenants, reporting and insurance requirements are determined on a case-by-case basis.
- Origination fee: The borrower will pay a 1 percent origination fee, plus other third-party expenses for documentation, recording, etc.
- Collateral and guarantees: The collateral will generally consist of a security interest in all business assets or real estate of the borrower, and may be in a first or second position. Guarantees will generally not be required; however, the organization’s board members may have a legal liability per state statute.
Upcoming Nonprofit Trainings
Fundraising Summit
Join Janet Cobb, fundraising trainer, for a three-day fundraising summit. Attend one day or all three! All sessions will take place from 9 a.m. to…
- Subject
- Nonprofit
- Series
- Nonprofit Academy
- Start Date
- October 10, 2023
Financial Jump-start Planning for 2024
Attend this free training with Julie Anderholm to prepare for 2024 and learn tips on proper budgeting processes. Time: 9 a.m. to 2 p.m.
- Subject
- Nonprofit
- Series
- Nonprofit Academy
- Start Date
- October 24, 2023
Nonprofit Boards for the Real World
Learn the roles, responsibilities and legal obligations of boards. Get tips on finding board members and keeping them engaged. Explore how board member roles evolve…
- Subject
- Nonprofit
- Series
- Nonprofit Academy
- Start Date
- November 16, 2023
Contact Us
Initiative Foundation staff members are here to answer questions on nonprofit lending.
