Emergency Loan
Amount: Up to $50,000
Interest Rate: 2.5%
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.
Please contact Margaret Southerland at margaret at padmaconsulting.com or 415-567-5494 to help identify if this loan product fits the needs of your nonprofit.
Description
Loans can be used to help with any immediate and unexpected cash flow needs identified by the borrower.
Examples of Loan Use
Facility damage due to severe storms.
Late or unknown arrival of expected receivables such as grants, tuitions, donations, or other sources of income when money is needed to make payroll, rent, start contracted services or programs.
Unexpected increase in insurance payments.
Bank line of credit changes that might include immediate repayment of outstanding balances due to a bank required rest period or any other bank-related issues.
Any other unforeseen cash flow challenges that need a short-turn around for loan funds and a longer repayment period than ALF’s other unsecured loan products.
Requirements
The repayment plan is to be determined by NCG Staff and borrower.
Repayment can be from a combination of sources
Loan must be repaid within 24 months.
What you will need for the application:
Current fiscal year operating budget
Current fiscal year to date financial statements (income statement and balance sheet)
Prior two fiscal year-end financial statements
Board roster with affiliations
Please click on the links below to upload and complete the following documents:
Do you best to create a loan payment plan in the cash flow projection. This payment will be discussed and finalized in partnership with ALF staff.
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.