Partners

Partners for the Common Good
Partner Type: Financing ,Technical Assistance
Address: 1801 K STREET N.W. STE M-100
City: Washington
State: DC
Zip Code: 20006
Country: USA
Phone: 202-689-8935
Fax: 202-689-8938
URL: http://www.pcgloanfund.org
Email: pcg@pcgloanfund.org
Contact Information
Contact Name: Mike Bannon
Contact Phone: 202-689-8935 x21
Contact Email: pcg@pcgloanfund.org
Organization Background and Purpose
Date Established: 05/15/2000-
Description:

Partners for the Common Good, Inc. ("PCG") is a U.S. based nonprofit community development loan fund/Community Development Financial Institution (CDFI), whose mission is to promote economic justice and social change by providing access to debt capital to community-based ventures that advance the "common good". PCG seeks to support innovative organizations and emerging sectors that have high potential to create economic opportunities for low-income people, women, people of color, at-risk populations, and others who are often left out of the economic mainstream.
Products/Services:

PCG's goal is to provide flexible debt capital that can be used for programmatic and/or specific organizational operating needs.

Current Loan Limit: $50,000 - $450,000.

Term: Generally one (1) year up to five (5) years. (Average historical loan term is 48 months.)

Interest Rates: 1) Prevailing market rates tied to the published Wall Street Journal Prime Rate plus up to a maximum of 3.5% for loan terms of one (1) year or less, and 2) U.S. Treasury (UST) Five-Year Note Yield plus up to a maximum of 3.5% for loans of more than one year. [Interest rate pricing will vary based on a borrower's credit history, term requested, loan risk profile, market conditions, and PCG's prevailing cost of capital].

Loan-to-Value Ratio (LTV): Maximum LTV is generally 90%.

Structure: Senior or subordinated debt, participation or co-lending instruments, certificates of deposit, and linked deposits are available. Final loan structure is based on specific borrower or project needs.

Repayment Terms: Loans typically structured as fully amortizing, but can be non-amortizing based on borrower needs and PCG's available loan capital.

Collateral: Required for all loans, but is flexible and varies by project type and borrower needs.

Fees: Non-refundable loan commitment fee equal to 1.5% of total loan amount, plus applicable credit report, title, search, wire transfer and filing fees.

Clients:

PCG's borrowers include: (1) community-based nonprofit organizations, nonprofit centers, community service providers, and affordable housing developers (2) nonprofits engaged in social enterprise or operating social purpose businesses; (2) mission-oriented enterprises; and (4) international development organizations promoting microfinance and fair trade. Eighty percent (80%) of PCG's portfolio is dedicated to borrowers who work domestically, and 20% is lent to international organizations with U.S. based affiliates only.
Testimonials:

I just wanted to enclose a personal note of thanks for the loyal support PCG has provided to Equal Exchange for many years. We are very grateful and our financing has played an important role in our ability to build fair trade and take our worker-owned business model to a whole new level Keep up the great work!

Best wishes, Rob Everts, Co-Executive Director Equal Exchange
Regions: all US regions

Partners