Brighter Beginnings is very excited to announce that we have entered into a new financing relationship with the Nonprofit Finance Fund! Currently totaling $750,000, this includes both a line of credit and term loan to support our clinic growth. This financing enables us to better manage our day to day cash flow, as well as to invest in critically needed growth for the clinic. With this financial backing, we will become both a stronger, more stable organization, and one with more resources to serve and invest in the community. Already our clinics have served 1,052 patients, and with this support, we anticipate scaling them to serve almost nine times that number within two years.
Founded in 1980, The Nonprofit Finance Fund (NFF) helps organizations connect money to mission effectively, and supports innovations such as growth capital campaigns, cross-sector economic recovery initiatives and impact investing. A leading community development financial institution (CDFI) with over $300 million in assets under management, NFF has provided $575 million in financing and access to additional capital in support of over $1.5 billion in projects for thousands of organizations nationwide.
Compared to a traditional lender, NFF is able to offer different types of products and rates that fit the unique circumstances and needs of a growing nonprofit. Brighter Beginnings is very excited to have a funding partner who understands our needs and was able to craft a financing solution specific to our situation.
NFF is headquartered in New York City and serves clients from five offices across the country. Learn more about NFF here.