The SOAR Fund Takes Flight in the South!
We’re excited to be a participating lender in the Southern Opportunity and Resilience (SOAR) Fund. Designed specifically to reach the South’s smallest businesses in underbanked communities, the Fund has distributed more than $11 million in low-interest loans and has new funds available.
The Fund is open to small businesses and nonprofits with fewer than 50 full-time employees, offering very low-interest loans of up to $100,000 and free business support. Of loans distributed so far, nearly 90% have gone to businesses with 10 or fewer full-time equivalent employees and nearly half (49%) have gone to Black-owned businesses.