SoLo Funds Bridges Corporate and Nonprofit Efforts to Jointly Impact Communities with new Amplify Fund
Apr 28, 2022, 09:00 ET
SoLo Funds leverages innovative community finance marketplace to launch a new initiative that enables corporations, nonprofits and local governments to increase access to emergency capital in local communities
LOS ANGELES, April 28, 2022 /PRNewswire/ -- SoLo Funds, a leading community finance platform providing equitable access to capital, today announced a new initiative to amplify the reach of its emergency loan marketplace. Amplify Fund is a new SoLo-led initiative that enables corporations, nonprofits and local governments to create equitable access to emergency capital and track the impact.
Millions of Americans are in financial deserts and could benefit from new strategies for improving economic mobility. Amplify Fund engages partners to jointly affect change in their communities and solve the challenge of getting capital directly to individuals in need. The program leverages the collective power of local and national businesses, nonprofits and local governments to accelerate SoLo's goal to improve the financial wellbeing of communities that have faced generational challenges.
Amplify Fund is a people-based approach to financial health that overcomes place-based strategy limitations by using technology to reach those in need and transcend geographic boundaries. At the same time, Amplify Fund will track impact at the community level to bring greater transparency to key indicators of financial equity, including access to capital in underserved zip codes.
"The strength of SoLo's community lending marketplace lies in getting capital to the people and communities that need it most," said Rodney Williams, Co-Founder of SoLo Funds. "We're proud to launch Amplify Fund and partner with organizations who are committed to building financial autonomy and measuring the impact of those efforts in their communities."
Amplify Fund is launching with its first partner, a Fortune 100 company, and plans to expand participation following a pilot period. Participating partners will see how contributions impact the very people they aim to help. Amplify Fund is to be deployed in multiple cities in the United States, with partners and cities to be announced at a later date.
About SoLo Funds
SoLo Funds is a leading financial technology company that enables financial autonomy for all. SoLo offers community-driven financial services with unparalleled access to capital, return and protection. Since launching in 2018, SoLo Funds has processed millions of transactions, providing a lending alternative that is equitable and flexible to meet user needs. SoLo became the only black-led fintech certified B-Corp in the US and Canada in 2021, and in 2022 expanded its mission to build a community-driven platform to further serve the needs of everyday Americans.
SoLo Funds is available now to users in the United States. Sign-up at solofunds.com and download SoLo in the App Store.
For more information, please visit www.solofunds.com.
SOURCE SoLo Funds
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