With the increasing frequency of natural disasters, several Mercy Partnership Fund investees have developed dedicated strategies to help communities and individuals recover from these events.
Medical Arts Pharmacy, the product of entrepreneur Christina Washington’s hard work, has offered the best services for her community for more than 20 years. In 2016, her hard work was jeopardized when Hurricane Matthew caused flooding and water damage to the building and all the inventory. To pay her employees and recover her losses, Christina applied for and received a loan from Carolina Small Business Development Fund’s (CSBDF) Small Business Recovery Fund, which helped her get her business back off the ground and continue to serve her community. Since Hurricane Matthew, CSBDF has proactively created programs to help small businesses through future natural disasters such as a disaster relief kit to help small businesses restart operations after a natural disaster.
Mercy Partnership Fund investee Solar and Energy Loan Fund, located in Florida, has teamed up with MyStrongHome to provide low-interest rate loans to those affected by hurricanes. These loans give residents the ability to conduct sustainable property improvement projects that can drive down their insurance rates and make their houses more resilient in hurricanes. Another Mercy Partnership Fund investee, Florida Community Loan Fund, deployed $1.4 million in financing for hurricane recovery after Hurricane Irma. The loans helped borrowers rebuild their businesses and communities quickly, with no interest and no payments for two years.
To learn more about the work of these organizations, visit Carolina Small Business Development Fund’s website, Solar and Energy Loan Fund’s website, and Florida Community Loan Fund’s website. Learn about these and more of the 60 mission-driven organizations in Mercy Partnership Fund’s portfolio.