An emergency fund for NFP’s

Open Road Alliance has launched a low-interest loan to offer NFP’s access to working capital and credit lines understanding that the goal isn’t just money making, but to benefit society at large. Organizations can now apply for assistance and receive a below-market rate loan with a maximum two-year window for return. The fund will basically cover three destabilizing scenarios: delays in expected funding (because some funder or investor had a management hiccup), organizational misfortune (like a warehouse fire or key staffer getting seriously ill), or Acts of God or Economics (devastating weather, devaluating currency issues, or shifting governmental policies). Open Road is encouraging other foundations and impact investors to develop their own funding mechanisms to better serve the needs of nonprofits and social enterprises working for impact. www.fastcompany.com/40534806/when-nonprofits-have-a-financial-emergency-theres-now-a-fund-to-bail-them-out

Rate Idea

1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 4.83 out of 5)
Loading...

What do you think?