Baltimore | Resource Profiles

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Maryland Nonprofit Development Center Program and Fund (NIMBL)

Funding

Description

This interest-free, micro bridge loan program and fund supports the operations of nonprofit entities. The program is administered by the Maryland Nonprofit Development Center and the Maryland Department of Commerce ("Commerce"). ​The program provides short-term financing support to qualifying nonprofit entities between the award date of a government contract and the actual receipt date of those awarded funds. ELIGIBILITYNonprofits receiving NIMBL funding must be located in the State and determined by the Internal Revenue Service to be exempt from taxation under Section 501(c) (3), (4), or (6) under the Internal Revenue Code. ​Other RequirementsNonprofit entity must provide written confirmation from the government entity of funding from government grants or contracts but have not yet received funding.Loans cannot exceed $25,000.Repayment of the Loan must be no later than the date of the final grant or contract payment to the nonprofit entity.Loan funds may be used for operating expenses only.

Tags

Loans, Debt Capital , Microloans, Bridge Loans

Resource Providers:

Governmental

As the state's primary economic development agency, we stimulate private investment and create jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. Commerce also promotes the state's many commercial advantages and its outstanding quality of life to spur economic development, international investment, trade and tourism.

Maryland Department of Commerce
Private Non-Profit

If you’re in the early stages of running a nonprofit and need help finding your footing, look no further! The Nonprofit Development Center (NDC), sponsored by the Maryland Department of Commerce, is like getting the owner’s manual for your nonprofit organization.

Maryland Nonprofit Development Center

Affiliated Ventures:

Resource Details
For Startups
For Nonprofits
For Small Businesses

This interest-free, micro bridge loan program and fund supports the operations of nonprofit entities. The program is administered by the Maryland Nonprofit Development Center and the Maryland Departme…

Earliest Stage Served:
Established
Latest Stage Served:
Growth
All Stages Served:
Established, Mature, Growth
Industries Served: