Lending

Propel’s Loan Fund fuels the impact of nonprofits with capital. As a federally-certified Community Development Financial Institution (CDFI), Propel makes loans to a wide range of nonprofits of different sizes and fields of service. A 501(c)(3) nonprofit organization in Minnesota and the adjacent states of Wisconsin, Iowa, North Dakota and South Dakota, and Native nations sharing this geography are eligible to apply.

When you work with our lending team, you get more than just access to capital. We understand that every nonprofit is unique, with a distinct mission, program mix, and business model. Putting our knowledge of nonprofits to work, our lending team can help determine the best solution: usually a mix of capital and custom technical assistance, to meet your organization’s unique needs.

Our lenders are available to talk through any questions you have about the lending process and what might be right for your organization. Reach out to them today.

Loan Types and Typical Ranges

Working capital

Loans to support program and operational stability or program expansion or reimbursements. Typical range: $20,000 to $600,000

Lines of credit

Flexible financing to manage cyclical cash flow, such as to bridge the timing gap for receipt of a committed grant or contract. Typical range: $20,000 to $600,000

Short-term facility projects

Facility loans used for building improvements, repairs, equipment purchases, or to bridge to a capital campaign. Typical range: $50,000 to $1 million

Long-term facility mortgage

Flexible mortgages for building purchases, renovations, or construction for up to 5-7 years.  Typical range: $50,000 to $1 million

Ready to apply?

Download and save a copy of our loan application to your computer, then email us the completed PDF.

Terms

Loans are available for periods of a few months to 15 years, and longer amortizations are available. Loan structure, interest rates, collateral, and payment plans are customized to fit the organization’s business model, cash flow, and project plans.

 

Related Resources

Loans: A Guide to Borrowing for Nonprofit Organizations

This Propel Nonprofits guide is designed to help nonprofits understand loans, uses for loans, and when loans make the most…

Cash Flow Template

Propel Nonprofits template helps you understand the ebbs and flows of your organization’s cash in order to manage your cash…

Annual Requirements for Nonprofit Organizations in Minnesota

Wondering what’s required for your nonprofit on an annual basis? Check out Propel Nonprofits’ Annual Requirements for Nonprofit Organizations in…

What is a CDFI?

Thanks to our friends at the Opportunity Finance Network for this helpful intro to Community Financial Development Institutions (CDFIs). Learn more about CDFIs at our blog.

Lending Client Case Study

The Lift Garage

"I felt like Propel was in it for us, the staff was a safe place to take questions – the staff wanted to help us succeed and that is a good feeling."
Cathy Heying, Founder and Executive Director, The Lift Garage