The Southern Opportunity and Resilience (SOAR) Fund aims to support the recovery of small businesses and nonprofits with access to flexible, affordable capital and free business support services across 15 southern states.
Catalytic initial grants and loans are being provided by Capital One, Microsoft, the F.B. Heron Foundation, Fidelity Charitable with support from CapShift, the Heifer Foundation, Mercy Investment Services, Woodforest National Bank, Ceniarth, and the Jacksonville, Florida-based Chartrand Family.
ACE will join 12 other CDFI’s in originating loans purchased by the Fund.
“By investing in the Southern Opportunity and Resilience Fund, we are enabling recovery and economic stability to historically under-served businesses and communities through a robust network of CDFI partners to deliver targeted business support services”Theresa Bedeau, Community Impact & Investment at Capital One
When the Fund opens, CRF’s Connect2Capital platform will allow applicants to sign up online and get matched to a lender in less than five minutes. SOAR will open pre-applications beginning Tuesday, April 27th, 2021.