March 30, 2020
The Ann Arbor Area Community Foundation’s Short-Term Cash Flow Loan Program makes short-term (up to 180 days) cash flow loans of $5,000 - $50,000. The loans will be made on a rolling basis from a revolving fund of $500,000. This program has been initiated as part of AAACF’s philanthropic response to the COVID-19 health pandemic and economic crisis and complements AAACF’s grantmaking to support COVID-19 response, relief, and recovery efforts. Since the crisis began in mid-March, AAACF has granted over $475,000 to local nonprofits in support of response and relief efforts and will continue to do so throughout 2020 and beyond.
AAACF believes the local nonprofit sector plays a critical role in supporting the whole of Washtenaw County. To that end, loan applications will be assessed on a rolling basis in terms of financial feasibility (future ability to repay the loan) and the degree to which an organization can contribute to long-term recovery in our community.
AAACF will modify this loan program as other financing sources become available to the local nonprofit sector. Currently the loan program will focus on up to 180 days of operational cash needs to bridge nonprofit operations through this crisis and to reliable revenues sources (either new or historical).
We have now distributed 6 loans to the following organizations:
- Ballet Chelsea
- Friends In Deed
- Jewish Family Services
- Michigan Theater
- The Women's Center of Southeast Michigan
- Therapeutic Riding, Inc.
*This loan program is now closed