Trinity Church Wall Street has announced no-interest loans totaling $6.5 million in support of nonprofit organizations across New York City.

Administered by Nonprofit Finance Fund, the Trinity Church Grantee Loan Fund will provide no-interest loans to organizations working to address housing needs, homelessness, and racial justice and help ensure that groups can provide critical services while grappling with disruptions due to the COVID-19 pandemic as well as delays and reductions in government payments. Recipients include the Bowery Residents Committee, which at the request of the city, dramatically expanded its work providing food and shelter as the pandemic took hold, but because the city delayed payments and didn't activate new contracts as quickly as the work expanded, soon had millions in unpaid billed invoices. BRC will receive a $1 million no-interest loan from the fund.

In addition to BRC and CNHJH, nonprofits that will receive financing include: Bronx Defenders, the Brooklyn Community Bail Fund, the Center for NuLeadership on Human Justice and Healing, Housing Plus Solutions, Hudson Link for Higher Education in Prison, the Immigrant Defense Project, Kings Against Violence Initiative, the Ladies of Hope Ministries, the Violence Intervention Program, Women's Prison Association, and the Youth Justice Network.

"From the ongoing impacts of COVID to months-long delays in payments from the city government, nonprofits face continued and increased challenges in providing the critical programs and services they offer daily in neighborhoods across New York City," said Trinity Church Wall Street Philanthropies executive director Neill Coleman. "With these loans, nonprofits can have some breathing room and we can all advance our shared goals of ending mass incarceration and ending mass homelessness."