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Pro Bono Heroes: MoFo team crafts new aid for businesses shuttered by COVID – Reuters

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Oct 28 (Reuters) – It started with a Zoom call in the first days of the pandemic.

Morrison & Foerster corporate partner Susan “Suz” Mac Cormac was speaking with two friends, Jay Banfield from the non-profit All Home, which focuses on creating economic opportunities for extremely low-income people, and Elliott Donnelley, a founder of KD Venture Partners and the White Sand Investor Group.

The trio shared a common concern, Mac Cormac said: How could small businesses in poor communities weather COVID-19 related shut-downs? And what could they do to help them?

That call led to the creation of the California Small Enterprise Task Force and eventually the California Rebuilding Fund – a $1 billion private-public loan program to support California’s smallest entrepreneurs.

Mac Cormac, who chairs MoFo’s energy and social enterprise and impact investing practices, led a core team of 17 firm lawyers in developing an innovative blended finance structure for the fund. Dozens more lawyers and staff also pitched in.

For their work, she and the firm, which to date has donated 5,300 hours of work to the effort, are Legal Action’s Pro Bono …….

Source: https://www.reuters.com/legal/legalindustry/pro-bono-heroes-mofo-team-crafts-new-aid-businesses-shuttered-by-covid-2021-10-29/

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