NEW SOLIDARITY LOAN PROGRAM

In response to the COVID-19 crisis, LENDonate is introducing a new loan program for impacted nonprofits.

These $25,000 to $100,000 6-month interest-only loans will be made available to nonprofits that are at risk of deep and permanent cuts to program services if capital is not received immediately.

These loans are targeted specifically to established nonprofits who might not otherwise qualify for loans with affordable interest rates. This Program enhances the creditworthiness of those organizations by asking its lead supporters to sponsor the loan. Sponsors help the nonprofit qualify for a loan by making one of several types of loan guarantees:

Quick facts:

Please see information below about qualifications, fees, and documentation requirements. Questions? Check out the FAQs and/or Contact Us.

 

List of other resources.

About Borrowing

The LENDonate platform serves as integration point between you, your current supporters and potential future supporters who learn about your organization for the first time through LENDonate.

We are here to facilitate and manage that process, keeping your conversations focused on what matters: your programs. You can tell your story on LENDonate to reach a larger pool of nonprofit-oriented donors and return-seeking lenders. Possible benefits include dramatically reduced funding costs and a growing base of support.

We are here to help you finance major projects or ongoing operational needs, so the minimum funding amount is $50,000. The maximum amount is determined by your organization’s financial strength. Depending on the complexity and size of the loan, it may take 2-6 weeks to receive the funds.

Our ceiling rates range from 2.25% – 10% per annum

Borrower Fees:


1 – 2% Origination Fee, to encompass different levels of loan complexities and size

2% – Donation Processing Fee

The below table illustrates our current LENDonate product types and provides some general ideas of ways to use your loan.

To qualify for a loan, your 501(c)(3) organization needs to have at least 3 years operating history and be in good standing. We will evaluate your organization’s financial strength in supporting this loan.

Complete this Loan Application. You will also be asked to submit the following documents:

Required Documentation:

Still have questions? Share them with us in our contact form. We will get back to you within 24 hours.

LENDonate’s COVID-19 Response – Solidarity Loan  Learn More
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