The Nonprofit Revolving Loan Fund is administered by HEDCO and offers low interest loans/lines of credit to organizations in the Greater Hartford region for the following purposes:
- "Bridge" cash-flow when contract or grant payments are delayed
- Provide working capital to cover costs until an anticipated source of revenue becomes available (e.g., the proceeds from a special event)
- Equipment purchases such as computers, copy machines, telephone systems, furniture and fixtures, etc.
- Leasehold improvements to space leased by a nonprofit where alternatives such as landlord-sponsored improvements are not an option, and where the need for reduced-cost financing is compelling.
Term loans/lines of credit of up to $100,000, at an interest rate of 4%, are available to organizations that operate with the Foundation's service area, have a 501(c)(3),and an annual audit. Applicants for these low-interest loans must have a clear source of repayment.
Ready to talk next steps?
Contact Fernando Rosa at 860-527-1301 to discuss securing a loan or line of credit with HEDCO.