SoLo Funds Connects Efforts of Businesses and Nonprofits to Jointly Impact Communities with New Amplify Fund
SoLo Funds leverages the innovative community finance market to launch a new initiative that empowers businesses, nonprofits and local governments to increase access to emergency capital in local communities
LOS ANGELES, April 28, 2022 /PRNewswire/ — SoLo Funds, a leading crowdfunding 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 initiative led by SoLo that enables businesses, nonprofits, and local governments to create equitable access to emergency capital and track impact.
Millions of Americans are in financial deserts and could benefit from new strategies to improve economic mobility. Amplify Fund engages partners to jointly influence change in their communities and solve the challenge of bringing capital directly to people in need. The program leverages the collective power of local and national businesses, nonprofits, and local governments to accelerate SoLo’s goal of improving the financial well-being of communities facing generational challenges.
Amplify Fund is a people-based approach to financial health that overcomes the limitations of place-based strategy 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 loan market lies in bringing capital to the people and communities that need it most,” said Rodney Williams, co-founder of SoLo Funds. “We are proud to launch Amplify Fund and partner with organizations that are committed to building financial empowerment and measuring the impact of these efforts in their communities.”
Amplify Fund launches with its first partner, a Fortune 100 company, and plans to expand participation after a pilot period. Participating partners will see how contributions impact the people they aim to help. Amplify Fund is to be deployed in several cities in the United Stateswith partners and cities to be announced later.
About SoLo Funds
SoLo Funds is a leading fintech company that empowers everyone financially. SoLo provides community-driven financial services with unparalleled access to capital, performance and protection. Since its launch in 2018, SoLo Funds has processed millions of transactions, providing a fair and flexible lending alternative to meet users’ needs. SoLo has become the only black-led fintech certified B-Corp in the United States and Canada in 2021, and in 2022 expanded its mission to build a community platform to better meet the needs of everyday Americans.
SoLo Funds is now available for users of United States. Register at solofunds.com and download SoLo in the App store.
For more information, please visit www.solofunds.com.
SOURCE Solo Funds