TechSoup, the nonprofit facilitator of technology solutions to non-governmental organizations (NGOs) globally, has announced that it has secured a USD 4-million loan from Nonprofit Finance Fund (NFF) to support expansion of its global distribution network bringing software, hardware, services, and content to civil society organizations, the company said.
For more than 30 years, TechSoup has provided the services and resources for people and nonprofits to come together to make an impact on the issues about which they care the most. In 2017, TechSoup connected over 1 million nonprofits worldwide, distributing USD 1.995 billion worth of donated and discounted technology, knowledge, and other critical resources.
The NFF loan will help TechSoup scale its core programs, specifically supporting late-stage research and development, product-testing, piloting, and expansion. This is the second time NFF has invested in TechSoup: In 2004, TechSoup established a line of credit with NFF to scale its then-two-year-old NGO Tech Marketplace, moving the organization from a local to a national level. Double-digit growth of customers and revenue helped TechSoup pay back those funds ahead of schedule.
TechSoup launched its capital campaign in November, to finance five new initiatives to help NGOs, philanthropists and civil society around the world leverage technology to create, connect, activate and transform their organizations and communities.