Availability of Alternatives

Availability of alternatives provides insight into the competitive landscape and the degree to which the SOAR Fund is providing a scarce product/service.

Georgia has the highest proportion of loan recipients (88%) who say they could not easily find a good alternative to the SOAR Fund loan. Florida has the lowest proportion (65%) mentioning they could not find a good alternative, despite having a high rate of first access; suggesting there might be more competition in that market.

For the 11%of respondents who could find an alternative, 42% would turn to another bank loan.

There is no significant difference regarding BIPOC and non-BIPOC respondents.

Access to Alternatives

Q: Could you easily have found a good alternative to the SOAR Fund loan? (n = 275, 214 BIPOC, 32 Non-BIPOC)

List of Alternatives

Q: What would that alternative be? (n = 32)

Impact Business Finances