In this Interview with Propolis Cooperative Housing Society, Thrive’s Morgan Brannon speaks to Lindsay Harris about their experience
Thrive Impact Fund made a $270K bridge loan to assist Propolis Housing Cooperative Society in acquiring their first property. Many new organizations like Propolis can find it difficult to access financing, and despite launching a community bond campaign, they anticipated that it could take almost a year to raise the funds needed. However, the property was for sale, and time was ticking! Thrive, alongside other lenders, stepped in to provide a bridge loan to help purchase the property and provide a longer runway for their community bond campaign. Eight months after the loan was provided, Propolis was able to raise 90% of the goal for their community bond campaign and paid back their loan in full.
At Thrive, we are a hands-on investor that provides walk-beside support and coaching to investees alongside financing. As a member of Thrive’s investment portfolio, Propolis also benefited from participation in mentorship, monthly peer groups, quarterly check-ins, and investor gatherings. In this video, Propolis’ Board President, Lindsay Harris, talks to Thrive’s Morgan Brannon about their experience as an investee and how the investment and support they received helped them to achieve their goals.
Get to know our other investees. Visit our portfolio page to learn more about the other impact organizations and social enterprises in our investment portfolio that are solving today’s most challenging problems. Is your organization interested in a bridge loan or other financing to support a project that will make a difference? Learn about our loans and other investment options here.