Not-For-Profits: Get Once in a Lifetime Financing!
The American Recovery and Reinvestment Act has created an exceptional opportunity for not-for-profits and the banks loaning to them. This is tax-exempt financing that also provides the not-for-profit with much more favorable interest rates and terms than those currently available in the marketplace.
Working through an Illinois state agency, the banks loaning to 501(c)(3) applicants are eligible to receive tax-free interest income on those bonds and so you, the not-for-profit, benefits from this tax discount. The purpose is to stimulate cheap lending to not-for-profits. Not-for-profits need to act quickly as the bond financing is only available until 12/31/2010 and can take up to 60 days to process.
Lynam & Associates can assist not-for-profits in working with the state agency and several banks and applying for this limited-time financing deal.