Miller Center & Beneficial Returns announce emergency loan fund for social enterprises

SANTA CLARA, Calif .– (COMMERCIAL THREAD) – The Miller Center for Social Entrepreneurship at the University of Santa Clara and impact lender Beneficial Returns announced the creation of the Truss Fund, designed to support social enterprises with emergency funding, in response to the devastating impact of the COVID-19 pandemic.

The Truss Fund will administer a total of $ 1 million to selected social enterprises that are alumni of the Miller Center’s Global Social Benefit Institute (GSBI®), a network of more than 1,000 social enterprises around the world. These funds are intended to help social enterprises “get over it” as they strive to get back to normal operations.

“We have designed the Truss Fund for businesses that have been particularly hard hit by COVID-19 and offer emergency loans of up to $ 100,000,” said Ted Levinson, CEO of Beneficial Returns. “Our partnership with Miller Center reflects our shared goal of finding solutions to end global poverty and protect the planet, and social enterprises are at the forefront of this effort.

Already, three organizations have been identified to receive funding. Pollinate enables women entrepreneurs to distribute products that improve the health of the most neglected communities in India and Nepal through a door-to-door, last mile distribution network, and will receive $ 100,000. iKure provides primary health care, wellness and prevention services to underserved communities in India, and has received $ 80,000. A loan of $ 50,000 will also be provided to Limited Resource Teacher Training (LRTT), serving teachers in Africa, Asia and the Caribbean.

Potential applicants can get more information and apply here.

“We are very grateful to the sponsors of the Truss Fund and Beneficial Returns for their leadership during this unprecedented crisis, as we all work to help social entrepreneurs overcome the significant challenges imposed by COVID-19,” said Pamela Roussos, head of the community. agent, Miller Center for Social Entrepreneurship.

Miller Center offers a wide range of crisis management resources as part of its outreach and commitment to the social entrepreneurship community around the world. These include a six-part business crisis plan program; webinars hosted by Miller Center Silicon Valley mentors, executives and expert partners on topics ranging from cash flow crisis management to the backbone of the business plan; and links to resources on business resiliency and disaster recovery. A full suite of materials can be found here.

About the Miller Center for Social Entrepreneurship

The Miller Center for Social Entrepreneurship has accelerated more than 1,000 social enterprises since 2003, leveraging our location in the heart of Silicon Valley and our Jesuit ambition to end poverty and protect the planet. Together, they have improved, transformed or saved the lives of more than 400 million people in 100 countries. We also help transform social ministries into more sustainable social business models and engage Santa Clara University students in field research to support social entrepreneurs.

About beneficial returns

Beneficial Returns is a debt fund that provides capital financing to leading social enterprises that eradicate poverty and protect the natural environment. We bridge the gap between investors and social enterprises who are best positioned to solve society’s greatest challenges, but who find it most difficult to secure long-term funding. Beneficial Returns borrows its loan capital from family foundations, donor-advised funds and faith communities.

About the University of Santa Clara

The University of Santa Clara is a private Jesuit Catholic university located at the epicenter of Silicon Valley, infusing ethics and social conscience into a rigorous interdisciplinary education for its nearly 9,000 undergraduate and graduate students.

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