SSBCI Request for Information Comments
October 26, 2022
On behalf of the member of the African American Alliance of CDFI CEOs (the Alliance), we respectfully submit the following comments in response to the Department of the Treasury (Treasury) request for comments on how Treasury can use its authorities to fund technical assistance (TA) to very-small businesses (VSBs) and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses applying to State Small Business Credit Initiative (SSBCI) credit and investment programs.
The Alliance is a membership-driven intermediary organization that aims to: build the capacity of member organizations; build bridges to economic stability, well-being, and wealth for Black individuals, families, and communities; and build power in Black communities by challenging and influencing financial sectors to operate more equitably. Since launching in 2018, the Alliance has established a network of 69 CEOs of Black-led Community Development Financial Institutions (CDFIs), which includes loan funds, credit unions, and venture capital funds. Alliance members reach historically underserved communities in all 50 states by providing financial services in the small business, affordable housing, and commercial real estate development sectors.
