International

New fund aids small, minority businesses as they recover from COVID-19

May 18, 2021
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The impacts of the COVID-19 pandemic reach far beyond our physical and mental health. The significant economic impact has devastated many small businesses and nonprofits, and those in historically disenfranchised communities are among the hardest hit. With a focus on fostering recovery and rebuilding for these businesses, the Southern Opportunity and Resilience (SOAR) Fund, a new Mercy Partnership Fund investee, is offering assistance.

Working through local community development finance institutions, the SOAR Fund offers very low interest loans and support to businesses with fewer than 50 full-time equivalent employees, focused on women and Black, Latinx, Indigenous, rural and immigrant communities in 13 states across the South and southeast U.S. The fund expects to assist more than 3,000 small businesses and nonprofits. Watch this short video to learn more about the fund’s work.

The SOAR Fund is one of 60 mission-driven investments in Mercy Partnership Fund. Learn more here.