Organization: Visión y Compromiso
Loan Amount: $100,000
Loan Type: 12-month interest only
Use of Funds: Stabilize cash flow during transformation growth period
Source of Repayment: Accounts receivables
The team at Visión y Compromiso (Vision and Commitment) had a strong plan for their future — but no easy way to bring it to life. Traditional financing models were not accessible to them, and they needed help to fully pursue the earned-income opportunities that would transform the financial and programmatic future of the organization.
Established in 2000, Visión y Compromiso (VyC) is the leading organization in California providing training, leadership and ongoing advocacy and support to community health workers.
A strategic decision in 2018 was made to expand the client base to include private organizations, such as hospitals, to diversify its funding source from 100% public funding. While they have had exciting initial success in signing new contracts, the cost of growth outpaced receivables.
Thanks to loans and donations from the LENDonate network of investors, the organization was able to pursue new projects to improve their financial outlook. They have now paid back the loan and are ready to enhance their services again!
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Organization: MEND (Meet Each Need with Dignity)
Loan Amount: $250,000
Loan Type: 12-month interest only
Use of Funds: Bridge Financing to avert program interruption
Source of Repayment: $3M+ property sale
For 47 years, MEND has opened its doors to the most vulnerable members of the community and have become one of the most comprehensive and empowering poverty relief agencies in Los Angeles County. MEND is an anchor institution with the largest food bank in San Fernando Valley, medical, dental and vision clinics, clothing, homeless care services, as well as support and care through case management services. The emergency bridge loan provided much needed cash that enabled MEND to continue providing these services during the most critical winter months.
Organization: Berkeley Repertory Theatre
Loan Amount: $37,500,000
Loan Type: tax-exempt private bond
Use of Funds: Real estate construction and debt consolidation with below 4% interest rate fixed for 10 years.
Source of Repayment: earned income, donations and grants
Prior to LENDonate, this nonprofit applied to multiple banks and CDFIs on their own over the past 5 years without success. Now with funding secured, Berkeley Rep will embark on an ambitious new artist housing project, directly next door to its two theatres: the Roda and the Peet’s. The new building, in the heart of the arts district, will provide vital housing for Berkeley Rep’s visiting artists as well as the young professionals who are awarded fellowships every year. The new building is designed to be LEED Gold certified and to reduce Berkeley Rep’s carbon footprint by housing talent next door to the theatre and eliminating the need to drive between various rental properties and the theatre.
Organization: Project WeHope
Loan Amount: $52,500
Loan Type: 3 Year Loan with 10 Year Amortization
Use of Funds: Purchase of Truck #4
Source of Repayment: receivables from various city and county contracts plus foundation grants and individual donors
Project WeHOPE’s innovative program, Dignity on Wheels, has provided more than 20,000 showers and 12,000 loads of laundry to the homeless from their mobile units since the fall of 2015. Without shower and clean clothes, the homeless are extremely reluctant to search out work or routine health care service, something you and I take for granted.
The funds were used to purchase Truck #4, a 2018 Dodge Ram Diesel One Ton Crew Chassis Cab with Flat Bed and Water Tank. With this new truck, WeHOPE will be able to expand our services and reach more people in need.
This loan received a 3% point interest rate reduction, and ~$3,000 donations while sourcing.
Organization: SHE-CAN
Loan Amount: $50,000
Loan Type: 6-month interest only
Use of Funds: Working capital and program costs
Source of Repayment: grants, annual fundraising campaign, annual fundraising event
The mission of SHE-CAN is to build female leadership in post-conflict countries. SHE-CAN believes that it is becoming clear that as our world continues to get smaller, raising a global generation of capable and gutsy female leaders is critical to systemic change. Over the next 5 years they plan to scale to a level that they are sending 50 educated female leaders home each year to 5 post-conflict nations. These potential leaders will form cohorts of empowered women with potential to changes their nations.
This loan was secured with a Board member guarantee.
