Loans

The Nonprofit Loan Fund is administered by the Greater Hartford Business Development Center and offers low interest loans/lines of credit to nonprofit organizations in the Greater Hartford region for the following purposes:

• "Bridge" cash-flow when contract or grant payments are delayed
• Provide working capital to cover costs until an anticipated source of revenue becomes available (e.g., the proceeds from a special event)
• Equipment purchases such as computers, copy machines, telephone systems, furniture and fixtures, etc.
• Leasehold improvements to space leased by a nonprofit where alternatives such as landlord-sponsored improvements are not an option, and where the need for reduced-cost financing is compelling.

Loans/lines of credit of up to $75,000 are available to agencies with annual budgets of less than $8 million, at an interest rate of 4%. Applicants for these low-interest loans must have a clear source of repayment.