The Montgomery County Community Foundation and the Hoosier Heartland State Bank recently announced a new program that will provide local nonprofits with an additional source of funding.
The Bridge Builder Nonprofit Loan Program is now available to recognized 501 (c) 3 organizations that serve residents of Montgomery County and are eligible for MCCF grants. Operating needs, projects and programs will be taken into account for low or zero interest loans.
MCCF CEO Kelly Taylor began work on developing the program after conversations with local nonprofits.
“The past year has been tough for our nonprofit community,” Taylor said. “As we spoke with the agencies, it became clear that the limited fundraising opportunities would leave many needs unmet. This program is intended to act as an alternative fundraising option and to provide another tool to help our local nonprofits get their important work done. “
“The mission of the Hoosier Heartland State Bank is 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 delighted to partner with MCCF to serve our local nonprofits.
Thanks to this partnership, MCCF will carry out an initial selection of candidates to determine their 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 the maximum amounts, as well as the terms of the loan, will be determined on a case-by-case basis.
You can find more information about the Bridge Builder program at www.mccf-in.org/bridge-builder. Organizations interested in applying should contact Kelly Taylor at [email protected] or 362-1267.