Catalytic Capital | May 26, 2020

Beneficial Returns raises emergency loan fund for social enterprises

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, May 22 – The Truss Fund has raised $700,000 to backstop graduates of the GSBI Accelerator at the Miller Center at Santa Clara University.

The fund’s first $50,000 loan is to Limited Resource Teacher Training, which serves teachers in Africa and the Caribbean. The fund also approved loans to Pollinate Group and iKure.

Investors are making recoverable grants “because we need to move quickly and because this work is inherently risky,” Beneficial’s Ted Levinson told ImpactAlpha.

“Now is the time for impact investors to dig deeper and support social entrepreneurs: the essential workers in the fight against global poverty,” said Beneficial investor JAMM Ventures’ Jeff Miller.