Open Road Alliance Launches Ventures Fund
Open Road Alliance, a philanthropic initiative that seeks to preserve impact in the social sector, announced the launch of Open Road Ventures, a new fund that will disburse at least $50 million in loans to nonprofits and social enterprises over the next five years.
ORV’s loan fund is unique in its speed and focus on one-time cash flow crunches. Loans are available to organizations of any size and offered at below market-rates, ranging from 0-7%, to serve as a bridge or working capital. The average loan term is 12 months, with a range of 45 days to two years. Any income generated from interest will be used as reserves to absorb future losses.