Non-profit agencies in Bay and Arenac counties are eligible for a little help from their friends at the Bay Area Community Foundation.
The Foundation is offering up to $250,000 in loans to local non-profits. The two-year loans have a 0% interest rate for the first year and 1% the second year. No administrative fees will be charged and agencies can request up to $20,000.
The hope is the loans will help non-profits who had to temporarily close their doors or cancel key fundraising events.
"All of our non-profits are vital to this community," said Foundation President and CEO Diane Fong. "We're especially grateful for those serving on the frontlines during this pandemic. As we come out of it – and we will – we will gather with one another at community events, participate in arts and culture, enjoy and protect the environment, and preserve our area's history. Our local non-profit partners help us do that."
Loan applications are due on the first of May, June, and July of this year. Although they are not intended to start new programs, the funds are unrestricted and can be used to supplement the organizations' greatest needs, including operations.
Information about the loan program and all other Bay Area Community Foundation responses to the pandemic can be found at www.bayfoundation.org/covid-19.