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Rhode Island Foundation makes a $500,000 loan to Capital Good Fund

Funds will allow the nonprofit loan provider to assist more Rhode Islanders with affordable loans for COVID-19 relief, transport, housing

The Rhode Island Foundation has made a $500,000 loan to Capital Good Fund. The Providence nonprofit will utilize the financing to create below-market, short-term loans to customers that do maybe perhaps perhaps perhaps perhaps not be eligible for a mainstream funding for costs linked to the crisis that is COVID-19 other key requirements, such as for example buying or fixing a car or truck and safety deposits.

“Making loans and investments that are direct our endowment allows this effect investing to align our financial opportunities with your objective. spending straight from our endowment provides the flexibleness to guide the task of our partners that are nonprofit a means that supplements our grant programs,” stated Neil D. Continue reading