Nonprofit organizations are eligible for CRA support if they provide qualified community development services, loans or investment to either:
- Low- and moderate-income individuals
- Low- and moderate-income geographic areas
- Area specially designated as underserved, distressed or disaster
- Small businesses or farms
If a nonprofit organization has a primary mission and/or programs that falls into one or more of the qualified community development categories, it is likely to be a good match for CRA.
Banks can earn CRA credit for a wide range of activities, so a nonprofit may be a right fit and not even know it. It’s really all about who and where the nonprofit’s support is going and how that support flows into the community.
At findCRA, we are experts on what activities qualify for CRA as well as what banks are interested in supporting. Our tools are designed to help nonprofits tell their story and allow us to extract and highlight the CRA finer points. If you need help, don’t hesitate to contact us at info@findCRA.com or start a Live Chat on the website.