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 produced $500,000 loan to Capital Good Fund. The Providence nonprofit will make use of the money to produce below-market, short-term loans to customers that do maybe maybe maybe not be eligible for mainstream funding for costs linked to the COVID-19 crisis and other key requirements, such as for instance buying or restoring a vehicle and protection deposits.
вЂњMaking loans and investments that are direct our endowment allows this effect investing to align our financial opportunities with this objective. Spending directly from our endowment gives us the flexibleness to aid the job of y our partners that are nonprofit a means that supplements our grant programs,вЂќ stated Neil D.