Willowbeez Soulveg

Finance Fund Capital Corporation COVID-19 Recovery Loan Provides Relief for Black-Owned Vegan Soul Food Restaurant During COVID-19 Pandemic

The COVID-19 pandemic has caused an unprecedented economic and health crisis not only for individuals, but also for small businesses across Ohio. With support from Wells Fargo, Finance Fund Capital Corporation (FCAP) created a COVID-19 Recovery Loan program to provide emergency financing for several Ohio entrepreneurs impacted by the pandemic. The COVID-19 Recovery Loans, which
consist of low interest rates and other flexible terms, were funded quickly to help small businesses remain open and survive the crisis.

Willowbeez SoulVeg, a Black-owned, vegan soul food restaurant in Columbus, is one of the COVID-19 Recovery Loan recipients. Since its founding in 2013, this pop-up and catering business has provided healthy, vegan food to the region. Prior to the onset of the pandemic, owner Carnell Willoughby planned to expand operations by opening a commercial kitchen. COVID-19 curtailed those aspirations and threatened to shut down the business entirely.

FCAP provided a$75,000 COVID-19 Recovery Loan to Willowbeez SoulVeg, which enabled the business to remain open and cover operating costs.

Willowbeez SoulVeg is located in a low-income neighborhood that has experienced a 13.05% population decrease since 2000, has a poverty rate of 42.59%, and has been identified by the U.S. Department of Agriculture as having low access to a supermarket or grocery store.

After Willowbeez received FCAP COVID-19 Recovery Loan dollars, their company expanded to a stall in the Columbus North Market, a well-known historic incubator for some of Central Ohio’s most notable chefs. employees.

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