Riverside City Nonprofit Resilience Fund
Announcing a new opportunity for Riverside nonprofits! This revolving loan fund, made possible by the City of Riverside, will help nonprofits based in or serving Riverside access affordable loan capital for:
- Working capital needs to prepare for incoming revenues or finance cost-efficient improvements
- Green energy upgrades to reduce operating costs
- Real estate or facilities acquisition, development, or improvement
The Riverside City Nonprofit Resilience Fund will be held and managed by IECF. While the City of Riverside has provided the initial funding, IECF will oversee this program and its operations.
How It Works
The Fund expects to make loans averaging $150,000-$200,000 with terms of 2-5 years, at. As loans are repaid, funds will be recycled to support additional nonprofits, creating a sustainable resource for our community. The Fund aims to provide favorable financing terms, likely at below-market rates, to reduce borrowing costs for nonprofit organizations, making it easier for them to undertake important projects that benefit Riverside communities.
Program Timeline
IECF is currently establishing the program structure, including:
- Forming a dedicated loan committee
- Partnering with a third-party loan manager
- Finalizing application criteria and processes
We anticipate launching the Fund by Summer 2025.
Request for Proposals: Nonprofit Community Loan Fund Manager
IECF is seeking a qualified Loan Fund Manager with experience in managing, underwriting, structuring, and monitoring financing to small and medium nonprofit organizations operating in low to moderate income communities. Download more information:
DOWNLOAD THE RFPStay Informed
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