What is South Bronx Overall Economic Development Corporation?
SoBro is a dedicated community development organization focused on elevating the quality of life within the South Bronx. Its initiatives span affordable housing, economic productivity, and health services. The corporation provides comprehensive business support to entrepreneurs, including assistance with certification, procurement, and access to financing. Furthermore, SoBro offers vital educational and career development programs, encompassing vocational training and job placement, to empower residents toward academic and professional success. Through this multifaceted approach, SoBro fosters growth and opportunity for both youth and adults in the region.
How much funding has South Bronx Overall Economic Development Corporation raised?
South Bronx Overall Economic Development Corporation has raised a total of $2.4M across 2 funding rounds:
Debt
$1M
Debt
$1.4M
Debt (2020): $1M with participation from PPP
Debt (2021): $1.4M led by PPP
What's next for South Bronx Overall Economic Development Corporation?
The recent strategic investment signals a new phase of growth and expansion for South Bronx Overall Economic Development Corporation. This capital infusion is expected to bolster SoBro's capacity to deliver essential services, potentially enabling the scaling of its affordable housing projects, enhancement of business support programs for local entrepreneurs, and broadening the reach of its educational and career development initiatives. The organization's focus on holistic community development positions it for sustained impact and increased economic productivity in the South Bronx.
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