Orange County Offering Zero Interest Loans to Nonprofit Organizations as part of expanded Capital Funding Policy
On September 20, 2018 the Orange County Board of County Commissioners approved a Capital Loan Program and Funding Policy to assist Nonprofit Agencies. The revolving loan program will be funded with $500,000 and a part of the County’s Community Loan Fund. The Community Loan Fund is an existing County revolving loan fund that could be expanded and capitalized further through our annual capital financing borrowings.
The County recognizes that in a rising interest rate environment, Nonprofits need attractive financing options to meet their capital campaign goals. The County’s Community Loan Fund will offer zero interest loans with repayments over a 5 or 10 year period depending on the loan amount. There will be no minimum loan threshold and no individual loan to a nonprofit agency would exceed $100,000.