New Relief Loan Fund for Human Service Agencies

Posted by on July 20, 2009

Kresge Foundation Announces New Relief Loan Fund for Human Service Agencies Responding to the Effects of the Economic Crisis
Deadline: Open

In response to the economic crisis and the impact it is having on front-line human service organizations, the Kresge Foundation has established a 24- to 36-month, interest-free program-related investment fund offering bridge loans of $250,000 to $500,000 each to high-performance human service organizations so that they may be better able to meet ever-increasing demand for food, shelter, and other emergency services.

Homeless and domestic-violence shelters, safety-net providers, affordable housing and supportive services, legal aid services, emergency assistance providers, and multi-service health and human service organizations are encouraged to apply.

The fund is designed for applicant organizations that provide comprehensive front-line services, have been in operation for three years, have a solid base of net assets or net worth (or long-term history of recurring revenue), can provide evidence of stable operating performance (net operating surplus over the past three to five years), and possess audited financial statements for the past two years.

Applicants must be 501(c)(3) organizations based in the United States that are not classified as private foundations or government entities. Individuals and elementary and secondary schools are not eligible for this program.

The Kresge Foundation has purposely designed the application process to facilitate speedy review and decision-making. Visit the foundation’s Web site for complete program information.

Contact: http://www.kresge.org/index.php/what/community_relief_fund/