Earned Revenue 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 for upfront capital to plan and hold events that have a two year history of earning revenue for your organization. This can include:
1. Fundraising Event
2. A Performance or Series of Performances
3. Programming
Examples of Loan Use
Use the loan to secure a venue for a fancy gala your organization is hosting.
Use the loan to pay artists for an upcoming performance.
Use the loan to pay vendors for an upcoming program.
Requirements
Loan must be repaid by benefit proceeds, box office returns, or ticket sales from programming.
Must have two years of experience putting on a similar benefit, performance, or program.
Must have an active board that participates in planning and implementing fundraising activities.
Must be repaid 30 days after the benefit, performance, or program.
What you will need for the application:
Fully developed plan for the benefit or performance including location, performers, publicity, and an estimated number of attendees.
Program, event or production budget for the current year and two prior years of this (or a similar) event.
Current fiscal year operating budget
Current fiscal year to date financial statements (income statement and balance sheet)
Prior fiscal year end financial statements
Related benefit or performance agreements or contracts, such as catering, theatre, etc.
Board roster with affiliations
Upload the following documents:
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.