Recovery Loans and Free Business Support (SOAR Fund)

Affordable capital and business support services to help your small business rebuild after the pandemic.

When to apply:

As soon as possible. Funding is limited.

You should apply if you

Own a business with 50 or fewer full-time employees.

Have suffered a revenue loss as a result of the pandemic. 

Have been in operation since at least September 2019 or can demonstrate three or more years of operating experience. 

Your business is based in AL, AR, DE, FL, GA, AL, MD, MS, NC, OK, SC, TN, TX, VA, D.C., or WV.

How to get started

1

Click here to complete the online pre-application form. 

2

If eligible, you will be matched with a local small business lender and a loan specialist will be in contact with you about next steps. 

3

The small lenders operating in Florida are BBIF and Ascendus.

4

Information you’ll need to provide

  • Your most recently filed tax returns, if available and required by the lender. 
  • Bank statements and/or internally generated financial statements.
  • Information regarding business owner(s), including name, address, SSN, EIN or ITIN, phone number, email, percentage ownership, and photo ID.
  • Executed Attestation Form (to be provided by the community lender).
  • Brief description of COVID-19 impacts on your business or organization.
  • Evidence of legal formation of business such as articles of incorporation and bylaws.
  • Personal guarantee (for businesses only).
  • Additional documentation may be required by the community lender at or after the time of the application.

Helpful tips

  • These are fixed rate loans. 4% for a 5 year term and 4.5% for 6 year term. 
  • Maximum amount available is $100,000. 
  • Businesses that are not eligible include: firms engaged in activities prohibited by law, corporate-owned franchises, branch banks, payday loan stores, pawn shops, astrology, palm reading, adult bookstores, strip clubs, and track waging facilities.

If you are seeking a local business advisor or need support applying, the following resources are working in partnership with SOAR: 

About this program

Provided by: SOAR Fund

If you have questions, you can speak with a program representative at Connect2Capital by filling out this contact form. 

Program Information: SOAR Fund Loan Program

Additional Information: SOAR Fund FAQs

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