The Maryland Department of Commerce, in partnership with the Maryland Nonprofit Development Center, is now accepting applications from nonprofit organizations seeking short-term operational support.
The Nonprofit, Interest-Free, Micro Bridge Loan Account (NIMBL) is an interest-free, micro bridge loan fund that provides funding up to $25,000 to qualifying nonprofits between the award date of a government grant or contract and the actual receipt of those funds.
“Many nonprofits depend on government grants or contacts to pay operational expenses, and when there is a delay in the delivery of those funds, it can seriously impact an organization’s ability to carry out its mission,” said Maryland Commerce Secretary Mike Gill. “This program will address an important and often overlooked gap in the nonprofit community, and provide an immediate solution to a short-term cash flow problem.”
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