REDF is committed to responding to the needs of and advocating for the employment social enterprise sector. When the COVID-19 crisis began, we surveyed our partners and had candid conversations to determine how to best support them and ensure continuing operations through this challenging time. In response, we have deployed $850,000 in emergency funding to 25 social enterprises across the country.
COVID-19 Relief Grants
REDF awarded $600,000 in COVID-19 Relief Grants to 20 social enterprise partners across nine states. (View the first and second round of grantees.) These general operating grants of $30,000 will provide immediate financial support paired with advisory services from REDF. This support will enable the social enterprises to plan, pivot, and keep their employees working, earning, and safe.
Front Line Matching Grants
REDF awarded $250,000 in Front Line Matching Grants to five social enterprise partners who have pivoted to offer essential services and support frontline workers during the pandemic. The general operating grants will be matched dollar-for-dollar by the business’ own fundraising efforts to double the impact of this investment.
LA County Employer Assistance Grant Fund
REDF partnered with the County of Los Angeles Workforce Development, Aging, & Community Services (WDACS) to distribute $500K in grants to 59 social enterprises and small businesses across the county. Collectively, these grants will avert 311 layoffs and help small businesses continue to serve their communities. LA County WDACS partnered with REDF to select these grant recipients and distribute the funds because of our collaborative relationship managing LA:RISE, our 20+ years of experience as a grantmaker, and our expertise in the employment social enterprise field.
COVID-19 Co-Lending Partnership
In response to the urgent need for flexible capital, REDF Impact Investing Fund (RIIF) and Open Road Alliance (ORA) have combined their expertise and resources to provide short-term bridge loans and working capital loans to eligible REDF partners in response to the COVID-19 public health crisis and its economic impact. Collectively we’re committing $1 million, which should fund between 5-10 loans ranging from $100-$250K. Read more about the newly-formed partnership here.
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If you are interested in supporting REDF’s efforts, find ways to give here or contact our development team.
