CHEFA Helps Nonprofits Unlock New Opportunities for Growth at Recent Financing Workshop

CHEFA recently welcomed a diverse group of nonprofit leaders to an informational workshop focused on the variety of financing programs CHEFA offers nonprofits throughout Connecticut. For many attendees, this was their first time engaging with CHEFA, and the event presented an opportunity to learn how CHEFA supports Connecticut’s nonprofit organizations across healthcare, childcare, education, and cultural sectors.

During the session, CHEFA staff provided an overview of CHEFA’s mission to enhance the quality of life for Connecticut residents by offering financial resources that drive community impact. From tax-exempt bonds to targeted grant programs, CHEFA’s suite of options is tailored to help nonprofits in various sectors access affordable capital for both large-scale and smaller initiatives.

The workshop highlighted several of CHEFA’s core funding programs:

• Tax-Exempt Bond Financing: One of CHEFA’s most impactful offerings, this program allows nonprofits to secure low-interest financing for capital projects by issuing tax-exempt bonds. This option is especially useful for larger initiatives, enabling substantial savings on financing costs. CHEFA shared examples of recent projects, including funding for healthcare and educational facilities, that underscored the potential of tax-exempt bonds to support major infrastructure investments.

• Capital Investments Loan Program: Tailored to provide low-cost loans, the program is open to both CHEFA clients and other Connecticut-based nonprofits, with loans available for up to $500,000. The program is intended for capital improvements, such as facility renovations, HVAC installations, and equipment purchases. CHEFA also discussed the program’s favorable terms, including a fixed 2.99% interest rate, no upfront or annual fees, and no prepayment penalties.

• CHEFA Community Development Corporation (CDC) and New Markets Tax Credit (NMTC) Program: For nonprofits operating in distressed communities, CHEFA CDC leverages the NMTC to create affordable financing options that support local economic development. CHEFA explained the potential of NMTCs to generate substantial tax benefits for projects in eligible low-income areas, providing a vital tool for organizations committed to strengthening underserved communities.

• Grant Programs: CHEFA offers grant funding to support a wide array of community initiatives. Through its Nonprofit Grant Cycle CHEFA provides grants that fund everything from educational enhancements to healthcare accessibility initiatives.

• Enterprise Capital Grant Program: Offering unrestricted grants of up to $500,000, this program is designed to bolster nonprofit organizations’ strategic growth and sustainability. By providing flexible funding, CHEFA enables nonprofits to invest in long-term initiatives, enhance operational efficiency, and scale their impact. Highlights include recent awards to organizations like All Our Kin and Freedom Reads, underscoring CHEFA’s commitment to fostering equitable opportunities and addressing critical societal challenges.

The workshop concluded with a Q&A session, where attendees gained additional insights into the application processes and eligibility requirements for each program. CHEFA staff encouraged all participants to explore these options to support their organization’s growth and sustainability and expressed their desire to collaborate with Connecticut’s dedicated nonprofit community.

For nonprofits interested in learning more, CHEFA’s website provides further details on each of the funding programs discussed and application guidance.