Open Road Alliance Response to COVID-19
In this time of uncertainty, nonprofits and social enterprises are being hit hard. Many of you have reached out to Open Road directly to share how COVID-19 is already impacting your organization and work.
The effect of the COVID-19 pandemic on the impact sector has reached natural disaster proportions in its scope and scale, which means that the global need for our ‘emergency’ capital vastly outstrips our available resources. Given this reality, we have decided to use our limited resources to best serve the sector under the following circumstances:
- Charitable Grants will only be offered to organizations responding directly to COVID-19.
Open Road will be offering four loan products to organizations affected by COVID-19:
- Lost Event Revenue
- Accelerating Incoming Emergency Funds
- Co-investment to Support Social Enterprises
- Deep Impact Loans
As always, all of our grant and loan products will be subject to Open Road’s traditional criteria:
We only make a loan or grant to an organization that is (1) otherwise fully funded, then (2) hit an unexpected, external roadblock (i.e., COVID-19), where (3) Open Road’s loan can fully solve the problem at hand and (4) demonstrate the potential to create catalytic impact. In this time of exceptional need, we will be prioritizing impact.
Direct COVID-19 Response
Who: For organizations engaging in direct COVID-19 response. We will prioritize organizations and activities that have a clear and direct role in ‘flattening the curve’ and thus limiting, shortening, or minimizing the economic and social, as well as health effects of the pandemic.
Why: Slowing and stopping the spread of COVID-19 is directly linked to reducing and limiting the economic and social hardship our communities are experiencing.
What: Charitable Grants
- One-time cash need
- Up to $100,000 USD
- Any geography and any sector, providing they can demonstrate that they are directly contributing to ‘flattening the curve’ in their community.
- Prioritizing clear, demonstrable, and deep impact.
For more information click "LINK TO ORIGINAL" below.