The Montgomery County Community Foundation and Hoosier Heartland State Bank recently announced a new program that will offer local nonprofit organizations an additional source for funding.
The Bridge Builder Nonprofit Loan Program is now available to recognized 501(c)3 organizations that serve Montgomery County residents and qualify for MCCF grants. Operating needs, projects and programs will be considered for low or zero interest loans.
MCCF CEO Kelly Taylor began working to develop the program after conversations with local nonprofit organizations.
“This past year was challenging for our nonprofit community,” Taylor said. “As we spoke with agencies, it became apparent that limited fundraising opportunities would leave a lot of needs unmet. This program is intended to act as an alternative funding option and provide another tool to help our local nonprofits achieve their important work.”
“Hoosier Heartland State Bank has a mission to give back to the community,” said Brad Monts, president and CEO of HHSB. “The Bridge Builder Nonprofit Loan Program aligns well with our commitment and HHSB is excited to partner with MCCF to serve our local nonprofits.”
Through the partnership, MCCF will complete an initial screening of applicants to determine eligibility. If an organization meets the requirements, they will be referred to Hoosier Heartland to begin the loan process. The minimum amount that can be requested is $10,000 and maximum amounts, as well as loan terms, will be determined on a case-by-case basis.
More information about the Bridge Builder program can be found at www.mccf-in.org/bridge-builder. Organizations interested in applying are asked to contact Kelly Taylor at firstname.lastname@example.org or 362-1267.