Social Venture Fund
Our Social Venture Fund is a $1 million loan fund that provides below market-rate loans between $20,000 and $100,000 to businesses and nonprofits tackling disparities in the areas of food, water, health, and education. The fund also provides loans to entrepreneurs of color located in the South Broad commercial corridor. Applications will open in November 2017.
- Loan sizes: $20,000-$100,000
- Repayment terms: 2-7 years
- Uses: commercial real estate purchases, renovation costs, operations, working capital, and/or furniture, fixtures, and equipment (FF&E)
The Social Venture Fund is open to all New Orleans social entrepreneurs Propeller’s Social Venture Propeller will prioritize solutions in the following areas:
- Water: Coastal restoration; urban water retention and quality; maritime industries and ports; fisheries
- Food: Access, affordability, and consumption of healthy foods for underserved communities; local, environmentally sustainable food economy; equity in the food industry
- Education: High quality early childcare facilities; transportation, chronic absenteeism, suspension/dropout rates, wraparound services in K-12; workforce development for “Opportunity Youth” aged 16-24
- Health: Access and affordability of health care for at-risk and underserved populations, including people of color, children/maternal health, the mentally ill, the homeless, incarcerated or formerly incarcerated population
- SBBI: Entrepreneurs of color establishing or operating brick-and-mortar businesses along the S. Broad commercial corridor (from Napoleon Ave to Tulane Ave, between S Galvez St and Jefferson Davis Pkwy)
How to Apply
- Info Session (Optional): Attend an info session to learn more about the Social Venture Fund and get hands-on help completing your application, assembling your financials, and developing your budget.
- Initial Application: Tell us a little about yourself and what you’re looking for in our initial application.
- Full Application: Fill out a full application. If you have any questions, please don't hesitate to call, email, or schedule a time to meet with us.
- Meet with Us: Meet with a Propeller representative who will review your completed application with you.
- Due Diligence: Once you have submitted a complete application, your application will undergo due diligence with Foundation for Louisiana.
- Loan Term Review: Propeller, Social Venture Fund investment committee, and the Foundation for Louisiana Board of Directors will review and approve loan terms, including interest rate, amount, duration, and your proposed impact of your project.
Social Venture Fund Administrator, Kris Khalil, email@example.com