Secured Bridge Loan

Amount: Up to $50,000
Interest Rate: 2.25%
Loan is up to $50K and can be increased up to $100K on a case by case basis. Please note, applicants are strongly advised to request a loan amount reflective of the organization’s capacity to take on debt.

Description

This loan is used to help with cash flow needs or cover program related expenses before a related grant or contract is received. 

Examples of Loan Use

• An organization was awarded a grant, but does not expect to receive funding in time to cover upcoming program or general operating costs.

Requirements

• Must be secured by up to four current government contracts, an approved grant or other confirmed source of income.

• Individual pledges are excluded from consideration.

• Confirmed sources of income cannot exceed four contracts, grants, or confirmed sources of income.

• Loan is due 30 days after each confirmed source of income is received.

What you will need for the application:

• Proof of collateral such as signed government contracts or grant award letters

• Current fiscal year operating budget

• Current fiscal year to date financial statements (income statement and balance sheet)

• Prior fiscal year end financial statements

• Board roster with affiliations

• Upload the following documents:

  • ALF Cash Flow Projections

  • Funding Report

  • Board Resolution

Contact

Please contact our ALF consultant if you have questions about the loan or need further guidance on the application: Margaret Southerland at margaret at padmaconsulting.com or 415-567-5494.