Giving Compass' Take:
- A video at The Aspen Institute looks at the critical role CDFIs and other infrastructures can play as lenders for entrepreneurs of color during COVID-19.
- How have systems of discrimination made growth more difficult for entrepreneurs of color? What can we do to build back better from COVID-19 in a way that reverses these injustices?
- Learn about how investing in entrepreneurs of color can create a more inclusive economy.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Infrastructure for lending has long been exclusionary and insufficient. As a result, entrepreneurs of color often lack access to needed capital to grow and sustain their businesses. The COVID-19 crisis has made an already difficult situation dire for many small business owners. How can we help entrepreneurs of color on the path to recovery? What is the role of community development financial institutions (CDFIs) as lenders, and what can we do to overcome some of the obstacles these organizations face?
We look at CDFIs as the front line on being able to reach the smallest, most local, hardest to reach businesses, the businesses that . . . may not have relationships with traditional banks.
Watch the full video about lenders for entrepreneurs of color at The Aspen Institute.