Nonprofit Operating Support Loan Program Application

Nonprofit Operating Support Loan Program Application
For more information or questions about this loan program, contact Diane Fong (office) 989-893-4438, (cell) 989-475-4983, dfong@bayfoundation.org or Sue Jensen (office) 989-893-4438 or suej@bayfoundation.org.
Deadline: The first of each month.
Loan Terms:
- Nonprofit 501(c)3 organizations only – in Bay and Arenac counties (Michigan)
- 2-year term • 0% for 12 months, 1% thereafter with interest accruing from date of loan origination
- No prepayment penalty
- No administrative fees
- Loan amounts are not to exceed $20,000 per request. This is the stated maximum. It doesn’t guarantee that the full amount will be awarded.
- Organizations with agency/designated endowment funds at BACF can use spendable to pay back the loan.
Evaluation Considerations:
- Nonprofit positively contributes to community fabric, social safety net, or unique sense of place in Bay County or Arenac County. Importance of organization to long-term community recovery.
- Demonstrated long-term commitment to community
- Good fiscal management (history of emergencies, etc.). Steps organization has taken to survive the pandemic.
- Ability to repay
- Has organization applied for federal/state dollars?
- Forecasted revenue loss since March 16
Applicant Information
Organization Name: *
Organization's Tax ID: *
Organization's Address: *

Street Address

Street Address Line 2

City State / Province

Postal / Zip Code
Contact Name: *

First Name Last Name
Role in Organization: *
Contact Email: *
example@example.com
Contact Phone: *

Area Code Phone Number
Program Information
Organization's Mission: *
Year Founded: *
Background on Organization: *
Please describe how you serve Bay or Arenac counties. Be specific in terms of numbers and population served as well as programmatic impact. Describe how your organization contributes to community fabric, social safety net, or unique sense of place in Bay or Arenac counties.
Financial Information
Loan Amount Requested (not to exceed $20,000): *
Describe how this funding will be used: *
When will funds be needed? *
(i.e. June, September, immediately)
Has your organization applied for financial support from other sources? *

Yes No
If yes, please check all that you have applied for:

Paycheck Protection Program Economic Injury Disaster Loan Michigan Small Business Relief Program (grant/loan) via Bay Future
For those applications you checked above, what were the outcomes?
Describe your organization's plans for sustaining operations through the pandemic and beyond: *
Was your organization required to file a 990 in 2019? *

Yes No
Does your organization currently have any debt outstanding (i.e. mortgage)? If yes, please describe: *

Please enter the number of full- and part-time employees at your organization at the following dates: *

Part-time Employees

Full-time Employees

Total Employees

2018

2019

March 16, 2020

Today

Forecasted Revenue Loss for 2020: *
Required Attachments
IRS Tax Determination Letter:

Browse Files

Cancel of
FY 2020 Operational Budget:

Browse Files

Cancel of
Most Current Balance Sheet:

Browse Files

Cancel of
Most Current Income Statement:

Browse Files

Cancel of
Most Recently Audited/ Reviewed Financial Statements

Browse Files

Cancel of
Most Recently Filed 990:

Browse Files

Cancel of
By signing below, I certify that: (1) I have the authority to submit this application; (2) the information provided in this application is true and correct, as of the date of the application, and that any intentional or negligent misrepresentation of this information may result in civil liability and/or criminal penalties. Transmission of this application as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws, or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature. Furthermore, I acknowledge that BACF and its representatives may verify any information contained in this application.

Using your cursor, stylus, or finger, sign your name in the box. Clear
Signature Date:

Month Day Year
Date
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Nonprofit Operating Support Loan Program Application

Applicant Information

Program Information

Financial Information

Required Attachments