New 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 can be used to purchase technology, equipment, etc. in pursuit of a new revenue stream. 

Examples of Loan Use

• Start or expand a program that requires up-front costs for personnel, consultants, supplies, facility rentals etc.

Requirements

• Repayment plan is determined by NCG staff and borrower, can be monthly, quarterly, or a balloon payment.

• Loans must be repaid within 24 months.

What you will need for the application:

• Proof of collateral or guarantee of repayment (To be discussed with ALF consultant)

• 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