TLDR:
- Elevance Health Foundation is launching an initiative to provide loans to small businesses to address health equity
- The foundation has made a $10 million commitment to this “impact investing” effort
Elevance Health’s philanthropic arm, the Elevance Health Foundation, has committed $10 million to provide loans to small businesses and organizations in order to address health equity. The initiative aims to offer loans at below Prime rates to address social needs such as access to care, food insecurity, and health disparities. Particularly focusing on businesses owned by women and people of color, the foundation seeks to empower these communities and create important community resources. The foundation will initially invest in seven states and has partnered with Mission Driven Finance to manage the majority of the $10 million commitment. By investing in local businesses and social enterprises, the foundation hopes to address challenges faced by individual communities.
