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Open Trellis

Consultation on Establishing a Establishing a Charitable Loan Fund

Summary:

Provide consultation to a Virginia public charity on establishing a charitable loan fund.

Referred by:

Jurisdiction(s): Virginia
About the Organization: Open Trellis is a Virginia public charity that serves as an online lending platform for business owners from lower-income households.
Legal Entity Type: Nonprofit/Charity
SDG(s): Decent Work and Economic Growth, Reduced Inequalities
Legal Issue(s):

Open Trellis is seeking a legal consultation on the establishment of a charitable loan fund, to facilitate a new capital access program of 2 – 3 year installment loans for small business owners meeting related underwriting requirements. They want to make sure they understand appropriate governance and related regulations governing organizations that make loans to the public.