Thursday, December 08, 2011

New Loans Available to Local Nonprofits

Loans are available to:  
•Bridge contract payments
•Purchase equipment
•Complete maintenance or improvements in owned or leased spaces

Terms:
•Typical loan amounts, $5,000 - $75,000
•Fixed Interest Rate of 6% - 6.5%
•1-5 year terms, interest only or amortizing
•1-2 points commitment fee

Special priority is given to nonprofits:
•serving the low-income community
•promoting job development
•with community representation
•planning green building updates