TruFund Financial Service, Inc. is one of 13 Community Development Financial Institutions (CDFIs) participating in the SOAR COVID-19 Disaster Recovery Loan Program. These loans provide disaster relief for small businesses in TruFund’s Southeast Region due to the COVID-19 crisis.

Terms and Conditions

  • Locations: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia
  • Amount: Up to $100,000 or up to 100% of average monthly revenues for any three-month period in 2019 or first quarter of 2020
  • Amount for nonprofits: Up to $100,000 or up to 100% of average monthly expenses for any three months in 2019 or first quarter 2020
  • Terms: 60 months
  • Interest Rate: 4% for small businesses; 3% for nonprofits


  • Credit: Must have a 600 FICO credit score (below 600 may be approved in certain circumstances)
  • Debt-Service Coverage Ratio: 1.20x
  • Collateral requirement: Must have gross revenues of less than $5 million per year
  • Repayment terms: First 12 months – monthly interest-only payments; Months 13-60 – monthly P&I payments
  • Business requirements: Business must have been in operation for at least six months prior to March 2020
  • Business requirements for nonprofits: Business must have been in operation since at least January 2018

Available to small businesses with 50 or fewer employees. Business must not have an active application with any other CDFI for a SOAR Fund Loan or for more than one SOAR Fund Loan unless disqualified and directed by another participating CDFI to re-apply to the program. The business must have experienced direct economic hardship as a result of COVID-19 in a way that materially impacts their operations.