We’re happy to announce an extra perk for members with insurance through Nonprofits Insurance Alliance of California (NIAC).
American Nonprofits, a 501(c)(3) organization itself, offers collateral-free loans to California-based 501(c)(3) nonprofits.
NIAC has lent $500,000 to American Nonprofits on favorable terms to make these loans possible for our members. Loans to NIAC members have a fixed interest rate of 6 percent interest with a loan origination fee from $250 to $500 (depending on the size of the loan). Loans have a term of up to 12 months. Review and approval of the loan typically takes less than five weeks.
American Nonprofits grew out of a pilot program seeded by NIAC — the NIAC Loan Fund — which showed it was financially feasible to underwrite small, yet impactful, loans to nonprofit organizations.
With that initial program proven successful, American Nonprofits has since gained other investors and recognition as a Community Financial Development Institution (CDFI).
To learn more, or to inquire about a loan, visit the American Nonprofits website.
About American Nonprofits
As an organization intended to empower nonprofits by providing them access to financial resources they might not otherwise be able to access, American Nonprofits provides California nonprofits a platform to address issues of finance, credit, strategy, and accountability.
