$1.25M loan program launched for nonprofits

A new loan program from Community Foundation of the Ozarks is designed to assist nonprofits that have had difficulty securing funding in a year where grants and other resources largely were directed to health and human services needs.

CFO is offering below-market loans for nonprofits in arts, environment and animals, according to a news release. CFO President Brian Fogle said via email the organization has $1.25 million available for the program.

"During the pandemic, we have rightfully focused on immediate relief needs such as food insecurity, health and other human service areas," Fogle said in the release. "There will be a day, however, when this pandemic is past history, and it is critical that other nonprofits providing such richness to our region survive now, so they can thrive later.

"We hope this offers some patient capital necessary to get to the other side.”

Eligible nonprofits must have annual revenues of at least $100,000. The range of loans is $20,000-$50,000, with recipients expected to pay back the funds in four years at 2% interest.