Loans: Other
Featured Loan: SunLight General Capital
Promoting access to clean and affordable solar energy in New York State’s Oneida County
$6.4 million participation in an $8 million loan led by New York City Energy Efficiency Corporation (July 2024)
SunLight General Capital develops, finances, and operates solar energy projects with a focus on Northeast New York, promoting access to clean and affordable renewable energy. SunLight General Capital owns one of the largest and most diverse solar portfolios in the northeast – they have developed and acquired over 500 projects totaling more than 130 megawatts since 2009.
NFF’s $6.4 million loan will fund the construction of two ground-mount solar arrays in Holland Patent and Barneveld, NY. The two community solar projects are estimated to generate over $13 million in utility cost savings for low-income residents through National Grid’s utility community solar program. With this financing, SunLight General Capital can continue investing in solar energy projects that make clean energy accessible to even more households.
$8 million bridge loan (April 2024)
With an $8 million bridge loan from NFF, AltaSea can continue the revitalization of Berths 58 to 61 in the Port of Los Angeles while it waits for delayed government grants. This project will transform four historic port warehouses into 225,000 square feet of laboratories, research facilities, and hands-on educational development areas.
$500,000 bridge loan (May 2024)
Supported by the Hilton Foundation, a $500,000 zero-interest bridge loan from NFF will help CNM cover ongoing organizational costs while waiting for delayed reimbursements from government contracts and other funders. With support from this loan, they can continue investing in programs that equip nonprofit leaders with the knowledge, skills, and resources needed to fulfill their missions.
$80,000 working capital loan (December 2023)
This loan will help the organization overcome cash flow challenges caused by delayed major funding, which is a common experience for many nonprofits. It will help bridge cash shortages throughout the year so The Play Company can continue their important mission of advancing an inclusive and innovative American theatre system by championing new, often marginalized voices.
$500,000 working capital loan (September 2023)
Around 65% of Safe Parking LA's revenue comes from government contracts. Program costs are billed every month, and reimbursement is usually expected within 30 days. However, since SPLA is often reimbursed late, this financing will help cover their operating costs for about 1.5 months while it awaits payment. Supported by the Hilton Foundation, this zero-interest loan will also support SPLA as they establish themselves as a standalone organization, independent of their fiscal sponsor. With more sustained, reliable funding, SPLA can continue investing in critical programs that restore safety and dignity to Angelenos.
$90,000 working capital loan (December 2022)
As The Word continues to receive an unprecedented number of requests to facilitate their programs, the organization needs additional funding to match its exponential growth. Like many nonprofits, The Word faces cash flow challenges caused by late payments from their foundation and corporate partners. NFF’s loan will help alleviate this cash flow challenge so that the organization can focus on its programs. Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and development of the Metro Denver nonprofit ecosystem, NFF’s loan will provide The Word with the working capital needed to meet the rising demand for its services. With this investment, The Word can expand its programs to include even more community voices as agents of social and literary change.
$4.7 million bridge loan (May 2023)
This loan will support Pioneer Works as it purchases, renovates, and expands its facility on Pioneer Street in Red Hook, Brooklyn. Pioneer Works plans to bring its building, built in 1866, into the modern age with Americans with Disabilities Act (ADA) accessible garden pathways, a new elevator, a new roof deck, and a publicly accessible rooftop observatory. This loan will allow Pioneer Works to continue to educate and serve their community as they wait for reimbursement from city and state capital grants.
$2 million acquisition loan (March 2023)
Sure We Can rented the space they operate in for over a decade, and since 2016 the organization has tried to purchase the property. However, they faced a number of financial challenges. NFF’s loan assisted Sure We Can in finally purchasing the property they’ve long sought. In addition to the long-term financial stability that comes with property ownership, Sure We Can plans to expand their workforce, pursue community control and governance, implement green infrastructure projects, and process harder-to-recycle materials. The acquisition was also supported by SeaChange Capital Partners, which provided capital as Sure We Can awaits a $600,000 capital grant from New York State’s Empire State Development.
$68,000 working capital loan (January 2023)
Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and development of the Metro Denver nonprofit ecosystem, NFF’s zero-interest loan will help the organization pay off two existing high-interest loans on their dance floor and the company car that transports students and costumes to performances. Once they don't need to use their funding for high-interest payments, they will have the money they need to hire a grant writer and increase employee wages. We hope that this funding will allow ArtistiCO to focus on sustaining their growth so that they can make even greater investments in youth artistic expression. Check out some great photos and videos from the ArtistiCO studio on their Instagram page: www.instagram.com/artisticodance/.
$250,000 bridge loan (August 2022)
CicLAvia receives much of its funding from government contracts. However, like many government agencies, Los Angeles County agencies pay nonprofits after work is conducted, not before – and COVID-19 exacerbated delays in these payments that already existed. Offered through NFF's zero-interest CARE Fund, this loan will provide a portion of the cash needed to advance costs for an increasing number of events and smooth over cash flow issues caused by delays in government reimbursement. With more sustained, reliable funding in a time of significant growth, CicLAvia can continue investing in the health and well-being of even more Los Angeles County residents.
$11-million NMTC investment and $1.5-million construction loan (December 2020)
$60,000 equipment loan through the Metro Denver Nonprofit Loan Fund (July 2021)
Women's Wilderness requested a $60,000 loan through the Metro Denver Nonprofit Loan Fund to finance a fleet of three vans. While COVID-19 is still a threat in the United States, these vans will allow the organization to maintain its current program capacity while still maintaining social distancing between participants. In the future, these vans will allow Women's Wilderness to increase the amount of women, girls, and LGBTQI+ people it serves with its outdoor programming.
$2.1 million in financing (January 2020)
DCTV is building a new, 74-seat public cinema devoted exclusively to documentary film screenings. Located on the building’s ground floor, the cinema will serve as an expansion of the existing DCTV Presents programming, where the organization hosts screening events that engage audiences in documentary films about important social issues. NFF provided a $1-million bridge loan and a $1.1-million construction loan toward the $5.2-million project. Partner: LISC
$9-million NMTC allocation (December 2019)
Partners: SunTrust Bank, Atlanta Public Schools, and The Grove Park Foundation.
$1.7-million loan (September 2019)
Co-investor: Alternatives Federal Credit Union
$1-million line of credit (May 2019)
In 2017, CCFY was awarded a 5-year, $10.3-million contract from the Manhattan District Attorney’s Office, through the Criminal Justice Investment Initiative, to operate a “Youth Opportunity Hub” in Harlem. The hub gathers community-based organizations under one roof to provide a range of resources, services, and activities to support youth who have been involved or are at risk of involvement with the justice system. NFF’s $1-million line of credit will be used to prevent cash shortages as CCFY awaits reimbursement for this work and payments from other government contracts.
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