COVID-19 Relief: SMUD Nonprofit Microloan Program
Strengthening our neighborhoods. Together.
In the early months of 2020, our community began to feel the impacts of the COVID-19 virus. The growing pandemic brought the world to a halt and was especially devastating to our underserved, under-resourced neighborhoods and the nonprofit organizations that support them.
To help counter the economic fallout of COVID-19, SMUD’s Sustainable Communities initiative has partnered with California Capital to create a simple, low-interest microloan program to help nonprofits in our service area keep their operations running and growing, so they can continue to help those most in need.
Who can apply?
- Local 501(c)(3), 501(c)(4) and 501(c)(6) nonprofits incorporated and operating in SMUD's service area
- 100 employees or less
- Directly impacted by COVID-19
- Up to $25,000*
- 2% interest
- $100 application fee to be paid by borrower**
- Payment terms vary on a per loan basis, but shall not exceed 5 years
* At SMUD's sole discretion
** An additional processing fee will apply if loan is approved
How will loans be awarded?
Loans are limited and will be disbursed based on evaluating factors including but not limited to:
- Proven impact due to COVID-19
- Focus on areas and communities in most need based in part on SMUD’s Sustainable Communities Resource Priorities map
- Organizations addressing one of SMUD's four priority areas:
- Social well-being services
- Environmental health
- Economic prosperity