Dodge arts grantees with short-term cash-flow gaps that meet the eligibility requirements below are invited to apply for zero-interest, no-fee loans through the Prudential Loan Fund.

UPCOMING DEADLINES

In 2019, the next application deadline for the Prudential Loan Fund is:

Oct. 4, 2019

PRUDENTIAL LOAN CLINIC

All prospective applicants are required to attend a Prudential Loan Info Session led by facilitator Hilda Polanco, founder and CEO of FMA Associates. Organizations may opt to attend a one-on-one clinic to dig deeper into financial management after the workshop.

ELIGIBILITY

Only organizations that meet the following criteria may apply for a loan:

Dodge Foundation Arts grantee for at least three years
An annual budget of $5 million or less

NJ State Council on the Arts funding or any state, federal, or local contracts (CDBG, school, etc)
Attendance at Prudential Loan Info Session workshop

APPLICATION REQUIREMENTS

Required documents include:

Two years of financial statements (audit and/or 990) for your organization's most recently completed fiscal years (If your organization's most recent audited financial statements or 990 are more than a year old, unaudited or interim financial reports should be provided for the subsequent fiscal year)
Statement of Activities (also known as the Profit and Loss Statement)
Current Balance Sheet
Aligned side by side on the same page, your organization's 2018 and 2019 or 2019 and 2020 board approved operating budget, depending on your fiscal year
Two Financial Worksheets: Cash flow projection for the next 12 months and the Loan Readiness Financial Health Worksheet. Click here for links to download both.
Board resolution authorizing your organization to borrow funds from the Prudential Loan Fund
Demonstration of two years of successful fundraising events, ONLY if applying for an advance on a fundraising event