Securing a loan for a non-profit organization is extremely complicated in the States. In Atlanta, this concern is being resolved on account of the Community Foundation which is lending money to those in limited financial situations. These predicament is often true when these organizations await repayment from government agencies.
The Community Foundation of Atlanta presented a program known as the Non-profit Loan Fund to particularly extend help to organizations whose yearly operating budgets are under $3 million. This initiative is mostly an effect of the successful Arts Loan Fund which was a huge success. Under the program, 16 loans were given to small non-profit art agencies. Fifteen of the loans were paid back on time and just one was restructured.
The Community Foundation has comprehensive knowledge on its market. In Georgia, 82% of all non profit organizations have an annual operating revenue of less than $1 million. Based on the foundation’s research, half of the non-profit groups were noted to have experienced cash difficulties in 2009, though temporary.
