NDC is excited to be a participating lender for a new program aimed at getting small businesses and nonprofits across the South affordable capital and critical business support at a time when they need it the most. The Southern Opportunity and Resilience (SOAR) Fund aims to raise $150 million to provide us and other community lenders with affordable capital so we can offer loans and free support services to southern businesses and nonprofits, particularly the smallest of small businesses and those that have been historically underbanked, including women, people of color, and those in rural communities.
The Fund, which will launch once the federal Paycheck Protection Program is exhausted, will provide loans of up to $100,000 to eligible small businesses and nonprofits with fewer than 50 full-time employees.
Small business owners and nonprofits who need support can visit the website and pre-register. Please help us spread the word and support this critical program!