Throughout history, Black communities have demonstrated extraordinary resilience and innovation in the face of systemic economic oppression. From the entrepreneurial brilliance of Madam C.J. Walker to the thriving hubs of commerce like Atlanta’s’ diverse and dynamic economy, the legacy of Black economic power is undeniable.
Over the last decade, progress has been made. Black representation in the U.S. Congress has increased, the percentage of Black university graduates has risen, and according to the U.S. Small Business Administration Office of Advocacy, there are now over 3 million Black-owned businesses contributing more than $200 billion annually to the economy.
Yet, even as we celebrate these triumphs, the racial income gap remains stark. These disparities highlight the need for comprehensive economic reforms and targeted investments to ensure equitable financial opportunity across all races and ethnicities.
The African American Alliance of CDFIs CEOs believe in the transformative power of supportive economic development as a driver of lasting change. Community Development Financial Institutions (CDFIs) break down economic barriers by providing capital and resources to persistently underfunded entrepreneurs.
Through strategic advocacy, research, and direct action, The Alliance champions policies that promote sustainable economic growth and equitable financial opportunities; like our initiatives with the U.S. Small Business Administration to increase access to capital and technical assistance for underserved entrepreneurs. Our work with the U.S. Department of Treasury and other agencies further ensures equitable investment opportunities.
Our actions don’t stop here. The Alliance Housing Initiative addresses inequitable housing practices, homebuyer education, and affordable housing access so that everyone has the opportunity to live in safe and affordable housing.
When Black communities have equitable access to wealth-building opportunities, the impact is profound—not just for individual families but for the broader economy. That is why The Alliance remains steadfast in its mission to strengthen Black-led CDFIs who are empathetic to the needs of the underserved and can drive capital and training into communities seeking to have equitable access to wealth building opportunities.
But achieving this vision requires action. By supporting The Alliance and its initiatives, we can dismantle systemic barriers and create pathways for success and make a tangible difference in the lives of millions across the country.
Join us in this vital work. Together, we can create lasting change that positively impacts everyone.
