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 5-7 years. Typical range: $50,000 to $1 million
Loan Eligibility and Terms
- 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.
- We require an operating history and do not lend to startup organizations.
- Loans are available to nonprofits in all fields of service including health care, community development, housing, charter schools and other educational organizations, social service agencies, environmental, and arts organizations.
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.
Recovery Capital Loans
Propel Nonprofits has developed a new Recovery Capital Loan in response to the disruption of COVID-19. This new loan product was designed to be flexible, affordable, and structured to offer the time and patience needed for recovery and rebuilding. A portion of the loan amount is forgivable and will convert to a grant during the term of the loan.
- Learn more about Recovery Capital Loans
- Eligibility: Nonprofit 501(c)(3) organizations in
Minnesota and border communities. Priority to
organizations that are led by and serving Black,
Indigenous, and People of Color and are accountable
to their community and clients.
Arts & Culture
“Propel’s partnership was extremely helpful to my organization and it instantly increased confidence in myself, in my staff, and in my board that we were doing the right thing.”
Dr. Thomas Adams
Executive Director of Better Futures Minnesota
We have developed extensive expertise in lending to nonprofit organizations in the fields of arts and culture and charter schools.
- Learn more about our partnerships with arts and culture organizations and about our Equity Builder Loan Program
- See an example of how we have worked with Minnesota charter schools
Ready to apply?
Download and save a copy of our loan application to your computer, then email us the completed PDF.
Nonprofit Loan Application