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:

Please see information below to learn more about sponsoring.

 

Questions? Check out the FAQs and/or Contact Us.

About Sponsoring

Sponsorship is an innovative and impactful way to support a nonprofit that is special to you and financial reward is not a significant purpose. Board members, nonprofit leadership, and foundations can provide additional support to the organization’s loan proposal. Sponsorship is an endorsement of the nonprofit’s mission and your desire for their on-going success.

How LENDonate Sponsoring Works

A nonprofit that plans to source funds on LENDonate may have a great proposal but not have the right financials to succeed in our underwriting process. They may not be eligible for a loan or may be looking to borrow at a lower rate. A sponsor can help that organization qualify for a loan and get the borrowing rate they need to have a successful loan campaign.

Ways To Be A Sponsor

1.  Pledge of cash or marketable securities securing 100% of loan. Pledged assets remain in the possession of the sponsor and are only “called” if the borrower is unable to repay. Once the nonprofit fully repays the loan, sponsors will be released from pledge obligations.

Qualified sponsors: nonprofit leadership and/or board members​

2.  Guarantee on 100% of loan. Guarantors need to demonstrate a financial capacity to step in that is adequate for the size of the loan. Contact us for more info.

Qualified sponsors: nonprofit leadership and/or board members, verified as accredited investor.​

Important: Sponsors agree to repay the borrower’s debt should the borrower default on agreed repayments; s/he should consider and fully understand the risk of such obligation.

For additional questions, please contact us.

Foundation Sponsors

LENDonate welcomes support from foundations. Foundations can extend beyond grant-making by sponsoring a loan or by lending. To explore opportunities, Contact Us.

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