Returnable Grant Fund - NYC Nonprofits

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Recruiting
Returnable Grant Fund
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Recruiting

Returnable Grant Fund

Support from City Agencies

Indirect Cost Rate Initiative

Board Governance Blueprint

Cost Savings

Related Links


Returnable Grant Fund

The Returnable Grant Fund (RGF) issues loans to nonprofit organizations to provide services and programs while awaiting registration of an awarded contract. Created in 1992, the program is a collaboration among the Mayor's Office, the Office of Management and Budget, and the Fund for the City of New York (FCNY).

To date, the RGF has granted more than 4,000 loans totaling more than $380 million. RGF loans are interest-free and service fee-free and typically cover one, two, or three months of critical program expenses such as rent, utilities, and payroll.
Apply for a RGF loan

What to expect from the RGF loan process:

After submitting all required contract documents to the ACCO (Agency Chief Contracting Officer), the nonprofit organization can apply for an RGF loan.

Upon approval of the loan application, the ACCO submits it to the Mayor's Office of Contract Services (MOCS).

MOCS reviews and submits to FCNY to issue the loan.

The organization signs a loan agreement with FCNY.

The funds typically become available within 24 to 48 hours after MOCS authorizes the loan.