La. Small Businesses, Nonprofits Can Apply for Support from SOAR Fund

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NEW ORLEANS Creators of the Southern Opportunity and Resilience Fund have announced that Louisiana small business owners and nonprofits can now apply for “very low interest” loans of up to $100,000. A group of community lenders said they created the fund to help small businesses and nonprofits navigate and rebuild from the COVID-19 health and economic crisis. The loans are designed to reach the smallest of small businesses (fewer than 50 employees) and those that have been “historically underbanked, including those in rural areas and those owned by women, people of color, and immigrants,” according a press release.

“TruFund is proud to be a member of the SOAR Fund Partnership,” said James H. Bason, president and CEO of TruFund Financial Services, a participating community development financial institution that serves small businesses in Louisiana. “We are committed to rebuilding a stronger more resilient small business ecosystem particularly in communities that have suffered from the lack of access to affordable capital and whose vulnerabilities are now exacerbated by COVID-19 and the related economic impact.”

For more information and to apply, visit www.TheSoarFund.org.

Categories: Activism, COVID-19, Finance, Today’s Business News