Blue Owl Capital Provides $ 2.2 Million In Interest-Free Small Business Loans Through Community Loan Program
NEW YORK, June 10, 2021 / PRNewswire / – Blue Owl Capital, a leading alternative asset manager, today announced that its Owl Rock Capital division has entered into eight interest-free loans totaling $ 2.2 million of its own small business capital under the Owl Rock community loan program announced a year ago.
The company has now allocated almost half of the $ 5 million interest-free loan program to help small businesses stay open and maintain full employment both during the COVID-19 pandemic and during the recovery period. The program is focused on serving businesses owned and operated by minorities.
Marc Lipschultz, co-chair of Blue Owl Capital, said, âSmall businesses are at the heart of the US economy. They provide jobs, goods and vital services to communities, and serve as an engine of economic growth and mobility. We are proud to help these businesses, which are an integral part of our society by maintaining their workforce and keeping their doors open. ”
Lipschultz continued, âOver the past year our country has made strides in recognizing and addressing pressing issues of racial inequality and economic disparity, but there is still a lot of work to be done. Blue Owl is honored to have led nearly 90% of our loan program to minority owned and operated businesses in four states, and we look forward to disbursing the rest in the same way. “
The program is administered by Newtek Small Business Lending.
About Blue Owl
Blue Owl Capital is an alternative asset manager that provides investors with access to direct lending strategies and GP capital solutions through a variety of vehicles. The company’s breadth of offerings and its ongoing capital base enable it to offer a differentiated and holistic platform of capital solutions to participants across the private market ecosystem, including managers of alternative assets and private companies in the middle market. The company had approximately $ 52.5 billion of assets under management March 31, 2021. Blue Owl’s management team is made up of seasoned investment professionals with over 25 years of experience building alternative investment firms. Blue Owl has approximately 250 employees in its Dyal Capital Partners and Owl Rock Capital divisions and has six offices around the world. For more information, please visit us at www.blueowl.com.
David Wells / Josh Clarkson
SOURCE Blue Owl Capital