Emergency Loan

Amount: Up to $50,000
Interest Rate: 2.5% 
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:

• ALF Cash-Flow Projection

• Funding Report

• Board Resolution

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.