Ruby Bucaro, All Kids Spanish, Deland, FL >

Southern Opportunity And Resilience (SOAR) Fund

We’re excited to be an originating lender for the Southern Opportunity And Resilience (SOAR) Fund, which provides affordable capital and free business support services to small businesses and nonprofits across the South and Southeast to navigate and rebuild from COVID-19.

The SOAR Fund covers: Alabama, Arkansas, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia and the District of Columbia.

All interested business and nonprofits apply through a centralized online portal that collects standard information and determines eligibility.  If eligible, applicants are matched with a lender like Ascendus based on their region. The lender will then support the applicant with the remainder of the process.

We hope you choose Ascendus to process your SOAR application!

To be eligible, an applicant must:

  • Have fewer than 50 employees.
  • Have annual revenues of less than $5 million.
  • Attest to experiencing direct economic disruption as a result of COVID-19 shutdowns.

Key loan terms include:

  • Maximum loan size of $100,000.
  • 60 and 72 month loan terms, interest only in the first 12 months.
  • Interest rates of 4% for businesses and 3.0% for nonprofits for 60 term loans and 4.5% and 3.5% for a 72 month loan.

The SOAR fund application opens April 2021.  Visit www.TheSoarFund.org to learn more, pre-register and apply.

It’s great that our business can be a platform for people to be supportive and connect with each other.

The experience of working with Ascendus was awesome, particularly the excitement they showed in my progress and in my business.

I’ve had customers for 15 years, since I started out of my home. People keep coming back and many have become my good friends. I come to the store always happy.

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