April 27, 2013
When the Desert Botanical Garden needed extra cash to build a pumping system, it looked into ways to borrow money. Rather than turn to a bank, it sought help from a non-traditional lender.
The garden received $375,000 from the Arizona Community Foundation in one of the foundation's first forays into lending. Some philanthropic groups are finding that it makes more sense to extend loans tied to specific projects that generate revenue than to give the money away.
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