Arts Loan Fund
Frequently Asked Questions

• How long does it take to review and approve a loan?
• How frequently can our organization apply to the Arts Loan Fund?
• How much interest will our organization have to pay on the loan?
• Are there any penalty fees?
• Where can I find the Arts Loan Fund Application?
• Do we have to submit our application via email?
• I'm having technical difficulties downloading the Word and Excel application forms. Who can help?
• I don't use Word or Excel, how can I submit an application?

How long does it take to review and approve a loan?

All applications received by the final Thursday of each month are forwarded to the ALF Steering Committee for review. The ALF Steering Committee meets on the third Thursday of each month. Organizations will be informed of the Committee's decision shortly after the Committee meeting. Loan funds are usually available to applicants two business days after the Committee meeting.

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How frequently can our organization apply to the Arts Loan Fund?

There is a three month "rest" period from the date an existing loan (plus interest) is paid off and before a new application can be considered.

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How much interest will our organization have to pay on the loan?

Interest is charged on a per diem basis over the life of the loan. To calculate the interest on your loan, take the amount of the loan and multiply it by the interest rate (1% below prime rate) and divide it by the number of days in the year (365). This will give you the per diem interest rate. Then multiply the daily interest by the number of days you plan to have the loan (e.g., four months of January - April 30th is 119 days). In this example, a $20,000 loan at 4.5% interest for four months incurs a $293.42 interest payment.

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Are there any penalty fees?

Depending upon the organization's situation, sometimes a source of collateral for a loan is not available as anticipated. In such a case, an organization can apply for an extension on their loan repayment schedule. If the situation is beyond the control of the loan applicant, the committee will often allow for a Class I extension which provides an extended repayment schedule without fees. However, if the need for an extension is due to poor planning on the part of the loan applicant, then a Class II extension may be granted resulting in a 2% penalty fee on all outstanding loan funds.

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Where can I find the Arts Loan Fund Application?

Please go to: http://www.ncg.org/services_alf_application.html

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Do we have to submit our application via email?

Organizations are encouraged to submit applications via email. Pages requiring original signatures must also be submitted in hard copy (fax or mail).
Fax number: 415-777-1714
Address: Northern California Grantmakers, Attn: Susanne Ross
625 Market Street, 15th Floor
San Francisco, CA 94105

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I'm having technical difficulties downloading the Word and Excel application forms. Who can help?

Please contact Suki O'Kane, Operations Manager.

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I don't use Word or Excel, how can I submit an application?

Please contact Susanne Ross at 415-777-4111 x 27 to obtain a hard copy or Adobe PDF version of the application.

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