New Revenue Loan

Amount: Up to $50,000
Interest Rate: 3.5%
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.

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 18 months.

To Apply

To apply, log into our application portal, you will need to create an account to get started. This will allow you to save your work and come back to your application. 

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