NoCo foundation opens loan program for applications
FORT COLLINS — The Community Foundation of Northern Colorado is accepting applications from eligible nonprofits for financing through the foundation’s loan program. Nonprofits serving the residents of Northern Colorado and the eastern plains are eligible to apply.
Loan funding is intended to assist nonprofits with timing issues surrounding receivables, payment of an approved government or foundation contract, or some other verifiable form of repayment. The program uses impact investing to creatively support nonprofit projects.
Since it was established in 2017, the loan program has provided financing for organizations that are both located in and serving the residents of Northern Colorado and the northeastern plains. The program prefers to fund loans that include capital projects, critical programming needs, or equipment.
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Program criteria parameters include:
Impact: The program will consist solely of investments that further the foundation’s mission, which is to inspire and unify the communities served. The foundation will generally make strategic investments where its capital is catalytic to success.
Duration: Loans will generally call for payment in full within five years. However, repayment may be extended on a case-by-case basis.
Amount: Preferred loan dollar values are between $50,000 and $350,000.
Collateral is required for all loans. Eligible collateral includes real estate, assignment of pledges, assignment of deposit accounts or donor advised funds, and equipment.
