News and Events Type: News

Turtle Island Community Capital and the Black Renaissance Fund earn national recognition for reshaping how capital reaches communities that have long been overlooked. 

When the Transformative 25 (T25) list announced its newest class of organizations reshaping the economy for social, environmental, and economic justice, our member Turtle Island Community Capital (TICC) and The Alliance’s Black Renaissance Fund made the list. Both were recognized for the same underlying work: building the capital systems that our communities have been shut out of for generations. 

Turtle Island Community Capital: Native-Led Finance at Regional Scale 

TICC is the only Native-led community development financial institution (CDFI) operating at a regional scale across the Northeast and Mid-Atlantic. Since founding the organization in 2024, Co-Founder and CEO Alexander Sterling has built its policies, lending products, investor materials, compliance systems, and reporting processes from the ground up, all while meeting rising demand for financing from Indigenous entrepreneurs and communities. 

One of the businesses TICC supports is Relative Arts, an Indigenous-led creative enterprise that produced the first-ever Indigenous New York Fashion Week in 2025, creating opportunities for more than 70 Indigenous artists and cultural workers. Despite that success, barriers within traditional financing had forced the organization onto a high-interest line of credit that left it financially strained. TICC stepped in to refinance that debt with more patient, flexible capital. 

“I talk often about reshaping how capital flows, but in practice that can look like these business owners no longer being trapped by predatory terms,” said Sterling. “That is what TICC is building toward: capital that strengthens long-term viability, preserves community assets, and treats enterprise and collective futuring as infrastructure.” 

To date, TICC has deployed nearly $130,000 through multiple forms of capital, and it is now working to launch a $10 million Watershed Capital Bioregional Fund to grow its lending portfolio and continue building financial infrastructure for Indigenous communities. 

The Black Renaissance Fund: Closing the Capital Gap for Black-Led CDFIs 

The Black Renaissance Fund is the only fund focused specifically on closing the capital capacity gap for Black-led CDFIs. It is raising capital to provide members of the African American Alliance of CDFI CEOs with capacity building grants and below-market, patient debt giving Black-led CDFIs the tools to strengthen their balance sheets, build loan capacity, and grow revenue through interest income. 

That gap is well documented. According to the Hope Policy Institute, Black-led CDFIs carry smaller and slower-growing balance sheets than their white-led counterparts, even though our network of 75+ certified CDFIs is led by CEOs with an average of 20-plus years of community development experience and a proven record of building wealth in Black communities through culturally aligned, proximate service. 

The Fund is now building toward its goal of raising our goal of $125MM for capital deployment and operations. Members interested in learning more about investing in or accessing the Fund can reach out to Erica King, SVP of Lending and Operations at [email protected]. 

One Movement, Two Milestones 

TICC and the Black Renaissance Fund are proof of what the Alliance was built to do: turn individual momentum into collective opportunity. Whether it is a Native-led CDFI refinancing predatory debt for an Indigenous fashion enterprise, or a Fund built to close the balance sheet gap for Black-led CDFIs, the throughline is the same. Capital should recognize the value, governance, and future of the communities it is meant to serve. 

Learn more about TICC at turtleislandcommunitycapital.org. Learn more about the Black Renaissance Fund at aaacdfi.org/black-renaissance-fund. 

A $500,000 investment from the Black Renaissance Fund launched NDC’s Clean Energy Loan Initiative

Since 1993, Neighborhood Development Center (NDC) has operated on a single premise: underinvested neighborhoods are transformed from within, by the entrepreneurs who live in them. That mission now extends to clean energy. 

With $500,000 in loan capital from The Alliance’s Black Renaissance Fund (BRF), NDC launched the Clean Energy Loan Program, pairing financing with technical assistance so small business owners across the Twin Cities metro can pursue energy efficiency, electrification, and decarbonization projects. 

Access to affordable lending capital became one of the biggest barriers to developing the organization’s Clean Energy Initiative. During the NDC Green Team’s search for resources, BRF’s investment carried a 2% interest rate and interest-only payments for the first 24 months, terms that have become increasingly difficult for CDFIs to secure. 

“Flexible and accessible funding, like the Black Renaissance Fund, is vital for CDFIs,” said Renay Dossman, President & CEO of NDC. “Without this kind of investment, our communities could face serious challenges.” 

SmartFresh Laundry team standing outside business in Minneapolis, MN. 

For the family behind SmartFresh Laundry, the program opened a door. As its first financing recipient, they used the loan to transform their space: high-efficiency washers, modern equipment, new vending machines, and upgraded heating systems that enhance both operational efficiency and improved customer experience. 

Recognizing that access to capital is only part of the solution, NDC hosts workshops and partners with Energy Smart to provide free energy assessments that help entrepreneurs better understand available incentives and make informed investment decisions. 

A Membership That Extends Beyond Funding 

As an Alliance member, NDC has accessed a network of expert consultants that have strengthened its organizational infrastructure. The AERIS team conducted a thorough analysis of NDC’s operational and financial framework, delivering recommendations that are informing the organization’s growth strategy and action plan. The Alliance also facilitated a technology assessment that has proven equally valuable, which identified opportunities to streamline operations, strengthen its technology infrastructure, and enhance the experience it provides to entrepreneurs and community partners. 

“Being part of The Alliance network means a lot to our organization,” said Dossman. “It offers invaluable guidance and resources that empower us to enhance our capacity to continue serving underinvested communities in the Twin Cities.” 

As an intermediary, The Alliance is helping to build a financial ecosystem where prosperity and generational wealth are within reach for everyone.  

“Climate finance represents one of the greatest economic opportunities of our time, and Black entrepreneurs deserve to be part of that future,” said Amber Banks, President & CEO of The Alliance. “By investing in Black-led CDFIs like Neighborhood Development Center, the Black Renaissance Fund is helping ensure that access to clean energy financing creates stronger businesses, healthier neighborhoods, and more equitable economic growth.” 

NDC’s next chapter deepens its commitment to entrepreneurs and developers through expanded lending programs and new financial products. The organization is also creating infrastructure for emerging lenders who need support with underwriting and loan servicing.  

Anchoring that work is The Ruckus, a new community-driven innovation center in development where entrepreneurs will be able to access capital, technical assistance, and business support for the tech and creative industries. 

To learn more about Neighborhood Development Center’s impact and programs, visit https://www.ndc-mn.org/. 

For African immigrants across Minnesota and Oregon, access to affordable capital remains one of the greatest barriers to economic opportunity. With support from the African American Alliance of CDFI CEOs (The Alliance) and its Black Renaissance Fund (BRF), African Economic Development Solutions (AEDS) has been able to expand its lending capacity, giving more entrepreneurs in African immigrant communities the resources to build thriving businesses and stronger communities. 

An estimated 85,000 East Africans live in Minnesota, including about 3,000 who are self-employed or own businesses. Yet, many still struggle to access financing, a reflection of a broader systemic reality in which inequitable access to capital has limited entrepreneurship and economic growth nationwide. 

To help close that gap, BRF made a $1 million investment in AEDS, strengthening its ability to serve underserved borrowers. 

“The Black Renaissance Fund provided the first and largest PRI [Program-Related Investment] our loan fund has received to date, and we are deeply grateful,” said Dr. Gene Gelgelu, Founder and President & CEO of AEDS. “Prior to this investment, our lending capacity was constrained, and we were unable to respond to opportunities with the speed or volume required.” 

The investment has expanded AEDS’s lending capacity, streamlined its lending processes, grown its loan portfolio, and financed more small businesses that would otherwise have struggled to secure capital through traditional financial institutions. Gelgelu described the fund as transformative, deepening the organization’s ability to better meet community needs. 

(Left to Right): Members of the African Economic Development Solutions (AEDS) team, borrower Asnat Ghebremedhin alongside her mother, Two AEDS loan officer, and the Ramsey County Project Officer celebrate the successful loan closing

When real estate agent Asnat Ghebremedhin set out to bring an affordable housing project to life, she had already secured government funding but still faced a financing gap. Through AEDS’ use of Black Renaissance Fund capital, she received the financing needed to unlock the remaining funds. Today, the property has been fully rehabilitated and is home to a low-income family, illustrating the lasting impact of flexible, mission-driven capital. 

AEDS attributes much of its growth to The Alliance’s support in strengthening its infrastructure through technology upgrades, AERIS rating preparation, grant support, and operations. This assistance has helped position the organization for long-term sustainability and greater community impact. 

Building on this momentum, AEDS is focused on scaling its lending portfolio with hopes of reaching more small businesses who have historically faced barriers to traditional lending. 

“The Black Renaissance Fund is the only fund focused specifically on closing the capital capacity of Black-led CDFIs,” said Amber Banks, President & CEO of The Alliance. “AEDS is a powerful example of the critical need for inclusive resources. When community lenders are supported, entire communities gain greater access to capital and opportunity.”  

Through the Black Renaissance Fund, The Alliance is helping Black-led CDFIs turn unmet demand into economic opportunity by providing flexible, accessible capital that strengthens businesses, supports families, and creates pathways to generational wealth. 

To learn more about this innovative investment fund, visit https://aaacdfi.org/black-renaissance-fund/.  

From June 16–18, 2026, The Alliance welcomed members, funders, policymakers, industry leaders, and community partners to New Orleans for ONWARD: Our Legacy. Our Leadership. Our Charge. The three-day convening celebrated the legacy of Black-led CDFIs, elevated the leadership driving transformative change today, and challenged attendees to embrace the collective responsibility of advancing economic opportunity. 

This year’s conference marked an important milestone as the first annual conference led by President & CEO Amber Banks, ushering in a new chapter for The Alliance. Under her leadership, ONWARD centered on cultivating the next generation of leaders and transforming collaboration into coordinated action to strengthen Black-led CDFIs nationwide. 

The conference opened with a Member CEO Day, an exclusive experience designed for Alliance members to connect, collaborate, and chart the path forward together. The evening concluded with a memorable Welcome Reception aboard the Riverboat City of New Orleans, where attendees enjoyed live music, line dancing, New Orleans cuisine, and networking along the Mississippi River. 

Attendees participated in engaging breakout sessions and keynote conversations exploring critical topics including Artificial Intelligence (AI), collective advocacy, innovative partnership strategies, and climate resilience.The Ascension Ladies’ Lounge and the first-ever Ascent Men’s Lounge created intentional spaces for meaningful connection and relaxation. 

A highlight was the launch of Capital Connect, The Alliance’s signature matchmaking experience that connected members directly with capital partners to build relationships, explore funding opportunities, and strengthen future investment in Black communities. 

The celebration continued during the Luminary Awards Masquerade Ball, honoring outstanding leaders advancing community development. The evening ended with a surprise performance by the Mardi Gras Indians, whose vibrant dances and cultural traditions brought an unforgettable New Orleans flair. 

Conference programming was enriched by compelling speakers including: 

• Cederic L. Richmond, Former Congressman 

• Renee Lapeyrolerie, Deputy Mayor, City of New Orleans 

• Harold Pettigrew, CEO, Opportunity Finance Network 

• Xavier Ramey, Founder/CEO, Justice Informed 

• Bill Bynum, CEO, Hope Enterprise Corporation 

• Heidi Schoonover, Sr. Managing Director of CRA, Truist Bank 

• Sabrina Stratton, SVP & Northeast Regional Director, Amalgamated Bank 

• Alexis Dishman, Executive VP & Chief Lending Officer, CRF USA 

• Monica Burch, SVP of Community Development Segment, PNC Bank 

• Sayiddah McCree, Sr. Impact Investment Officer, MacArthur Foundation 

• Jimmie Howlett, VP of Emerging CDFIs, U.S. Bancorp Impact Finance 

• Johvanna Sampson, First VP, Director of Community Impact, Amalgamated Bank 

The final day featured Money & Mimosas: Securing the Bag, an engaging discussion with funding partners on today’s capital landscape, before concluding with the Juneteenth Brunchella Celebration, where attendees came together to honor freedom, culture, and community. 

Congratulations to the Luminary Award recipients: 

• Financial Empowerment Award: Della Clark, President of The Enterprise Center

• Climate Justice Award: Hope Cupit, President & CEO of Southeastern Rural Community Assistance Project

• Lenwood V. Long, Sr., “Good Trouble” Award: Della Clark, President of The Enterprise Center

• Donna Gambrell “Community Impact” Award: Aisha Benson, President & CEO of Nonprofit Finance Fund

• Lifetime Achievement Award: Watchen Harris Bruce, President & CEO of Baltimore Community Lending

The Alliance proudly recognized Van Hampton, our longest-serving Board member, for his extraordinary years of service, unwavering leadership, and enduring commitment to advancing the mission of the organization. 

Thank you to every Alliance member, speaker, funder, and ally who joined us. We are also deeply grateful to our sponsors whose generous support made ONWARD 2026 possible: First Citizens Bank, McKinsey & Company, PNC Bank, Truist Bank, U.S. Bancorp Impact Finance, Amalgamated Bank, The Housing Fund, Charles Schwab, MacArthur Foundation, AmPac Business Capital, Baltimore Community Lending, Butler Snow LLP, Capital One, CRF USA, Fifth Third Bank, Fund Consulting, Goldman Sachs OMBW, Goldman Sachs UIG, Kresege Foundation, LoanWell, and Fund MI. 

We celebrated our legacy, strengthened our leadership, and embraced our collective charge to move ONWARD. 

The African American Alliance of CDFI CEOs is proud to announce its 2026 Board of Directors, a distinguished group of leaders whose expertise, vision, and commitment to advancing economic opportunity will help guide The Alliance’s mission in the year ahead. Each is also a member of The Alliance, leading a CDFI in their own community. That dual role keeps our mission grounded in the realities in the field.  

We are honored to welcome the following leaders to our 2026 Board: 

• Chair: Ron Brooks, Jr., President, River City Capital Investment Corporation 

• Vice Chair: Hilda Kennedy, Founder & President, AmPac Business Capital 

• Treasurer: Paul Jones, Chief Executive Officer, ProsperUs Detroit 

• Secretary: Tate Hill, President & CEO, Access Plus Capital 

• Dr. Gene Gelgelu, Founder, President & CEO, African Economic Development Solutions 

• Alvertis Brooks, Jr., Executive Director, Rainier Valley Community Development Fund 

• Sharon Joseph, President & CEO, Harlem Commonwealth Council & Harlem Entrepreneurial Fund  

These leaders bring deep experience in community development finance, entrepreneurship, organizational leadership, and economic empowerment. Their collective knowledge and dedication will help strengthen The Alliance’s work to support Black-led CDFIs and the communities they serve nationwide.  

Please join us in congratulating our 2026 Board of Directors. We look forward to the leadership, collaboration, and impact they will bring as we continue advancing our mission together. 

Congress has passed the 21st Century ROAD to Housing Act, a bipartisan housing bill aimed at addressing housing affordability and supply challenges across the country. The bill passed the Senate and House with overwhelming support and now awaits final action by the President. 

As of this update, the bill has not been signed into law. President Trump canceled a planned signing event on June 24 and stated that he would delay action until Congress advances the SAVE America Act, an unrelated elections bill. That decision has created uncertainty around the timing of final action. 

If signed into law, the bill would make changes across several areas of federal housing policy. It includes provisions related to housing supply, manufactured and modular housing, mortgage finance, disaster recovery, federal housing programs, and the role of large institutional investors in the single-family housing market. 

Once the bill is formally presented to the President, the Constitution gives him 10 days, excluding Sundays, to sign it or return it to Congress with objections. If he takes no action and Congress remains able to receive a veto message, the bill becomes law without his signature. If he takes no action and Congress adjourns in a way that prevents the bill from being returned, the bill does not become law. That outcome is commonly known as a pocket veto. 

The Alliance is tracking this legislation because housing affordability is directly tied to the work of Black-led CDFIs. Our members operate in communities where aging housing stock, appraisal gaps, rising construction and insurance costs, limited subsidy, and too little flexible capital can make housing projects difficult to finance. If enacted, the bill could affect some of the tools local governments, lenders, developers, and community partners use to build, repair, preserve, and finance affordable housing. 

The Alliance will continue monitoring developments and will provide additional analysis if the bill is signed, vetoed, becomes law without the President’s signature, or is delayed further. 

The African American Alliance of CDFI CEOs is releasing a new Request for Proposals to support Housing Justice Champions 2.0 (HJC 2.0), an implementation-focused initiative designed to advance active state and local housing policy campaigns led by Black-led CDFIs. 

Following the success of Housing Justice Champions 1.0, which equipped members with foundational advocacy knowledge and campaign plans, HJC 2.0 moves from planning to execution. This next phase will provide intensive, high-touch support to a small cohort of Alliance members prepared to achieve measurable policy progress on housing justice policy campaigns within defined political windows. For more details, see attached RFP.

Letter of Intent Due: May 26, 2026
Proposal Due: June 1, 2026
For questions or concerns related to the attached RFP, please contact: Nucdalie Cherident, Policy & Research Director at [email protected].

When I stepped into the role of President & CEO of the African American Alliance of CDFI CEOs on January 1, I did so with a clear conviction: that this organization has both the mandate and the momentum to reshape what economic opportunity looks like in Black communities across the country. One hundred days in, that conviction has only deepened.  

What follows is a snapshot of where we’ve focused, what we’ve learned, and where we’re headed next. 

Strengthening the Foundation  

I firmly believe that a thriving organization is built on a foundation of integrity, mission-aligned values, unwavering commitment, and measurable impact. Our members are the heartbeat of everything we do, and it is essential that the right operational systems are in place to support their work and allow our mission to advance.  

That’s why my early focus has been strengthening our internal structures, refining our processes, and ensuring that every layer of our organization is aligned and equipped to serve at the highest level. 

Amplifying the Story of Black-Led CDFIs 

One of the most rewarding aspects of this role is having a platform to amplify the critical work of Black-led CDFIs on a national stage. I joined The SmallBizChat Podcast to share how Black-led CDFIs expand capital accessfor small businesses, combat predatory lending, and prepare entrepreneurs for financing. 

The Develop This: Economic & Community Development Podcast provided a platform to highlight the ways our members leverage our tools and resources to build economic resilience nationwide. The conversation also underscored the importance of Black-led financial institutions becoming CDFI certified as a gateway to unlocking meaningful funding opportunities and scaling their impact in the communities that need it most. 

Advancing the Work Through Broader Ecosystem Collaborations 

Contributing to the broader ecosystem of community development work has been a priority from the start.  

The Bay Area Regional Health Inequities Initiative (BARHII) offered a close look at the critical anti-displacement work being carried out across the country by 11 organizations within their community of practice; work that closely mirrors the values driving our own mission.  

U.S. Bank’s Impact Summit in St. Louis convened dynamic voices and surfaced actionable strategies for deepening community impact.  

The Federal Reserve Rural Investment Convening reinforced the vital role that community development investment plays in sustaining and strengthening rural economies, a reminder that our members’ work touches every corner of this country. 

Engaging in each of these convenings has reinforced the value of The Alliance’s voice in shaping collaborative strategies, and I look forward to channeling these insights into our programming and partnerships going forward. 

Expanding Our Regional Impact  

This year, we launched regional huddles to bring our support closer to the communities our members serve. In March, we hosted our Midwest Huddle & Exchange in Roseville, Minnesota, our first regional convening of 2026. The room was filled with leaders, partners, champions, and building power for Black-led financial institutions. We tackled candid conversations about the realities our members face, exchanged insights on navigating change across finance, housing, philanthropy, and explored how collaboration and capital shape what comes next.  

Additional huddles are planned for the Northeast, Southeast, and Southern California regions later this year. 

Onward to New Orleans 

This June, we’ll gather in New Orleans for our 2026 Annual Conference, and I could not be more excited about what’s ahead.  Our theme, “Onward,” speaks for itself. This is a moment to move forward with boldness, clarity, and collective purpose. 

For the first time, we are opening our doors to external change agents and ecosystem partners on an application basis, creating a powerful opportunity to expand our network. We invite you to be a part of this pivotal moment — submit your application here.  

What’s Next 

As we move through the remainder of the year, I am filled with optimism about what lies ahead. The foundation we have built over these first 100 days positions us to show up for our members and communities in powerful new ways.  

I am energized by what we’ve already accomplished and clear-eyed about what’s still required of us.  The road ahead is full of possibility and responsibility. The gravity of this moment reminds us that Black-led CDFIs are community cornerstones whose impact is irreplaceable. Our work at The Alliance has never been more essential, and we are committed to doing everything in our power to help these institutions gain ground, grow their impact, and continue serving the communities that need them most. 

To our members: Thank you for trusting us with this work.  

To our partners and funders: thank you for standing alongside us.  

To everyone who believes that Black-led financial institutions are essential to a just and thriving economy: there is a place for you in what we’re building. The best is yet to come. 

Onward, 

Amber Banks 

President & CEO, African American Alliance of CDFI CEOs

The U.S. Department of Agriculture’s (USDA) decision to end the Increasing Land, Capital, and Market Access Program, which was designed to help underserved farmers gain access to land, marks a major policy shift with real consequences for minority farmers, especially Black farmers. Framed as part of a broader federal rollback of DEI initiatives, the cancellation of nearly $300 million removes one of the largest recent federal investments aimed at addressing longstanding structural inequities in American agriculture.  

Land access remains one of the biggest barriers to economic participation in agriculture. In 1910, Black farmers owned approximately 14 percent of U.S. farmland. Today, they make up less than 2 percent of the nation’s farmers. A decline widely tied to discriminatory lending practices, racial violence, heirs’ property challenges, and unequal access to federal farm programs. The USDA itself acknowledged systemic discrimination through the landmark settlement in the Pigford v. Glickman case, finding that Black farmers were routinely denied loans and assistance provided to White farmers, resulting in foreclosures and loss of family land. 

The Increasing Land, Capital, and Market Access Program was created in 2023 using pandemic-era federal funding. It supported nonprofit organizations, tribal governments, universities, and community groups working to help beginning and historically underserved farmers purchase farmland, obtain financing, and build viable agricultural businesses. Because many projects were already underway, the sudden termination of dozens of active grants eliminated anticipated financing, training pipelines, and technical assistance that farmers and partner organizations were counting on. 

The consequences fall disproportionately on Black farmers due to preference towards large and established landowners, while rising farmland prices have made entry into agriculture increasingly hard without inherited wealth or family land. Beginning farmers face persistent barriers to accessing credit, purchasing land, and navigating federal farm programs, a challenge for Black farmers who often lack generational land assets. Land access programs were therefore created not to give some farmers an unfair advantage but, rather, as corrective interventions addressing deeply unequal starting conditions shaped by earlier federal policies. Eliminating them risks reinforcing the same racial wealth gaps tied to land ownership that the program was trying to address. 

Beyond individual farmers, the cancellation carries broader implications for the resilience and diversity of the U.S. food system. Minority farmers, who make up roughly 5 percent of all US farmers, play important roles in regional food production, specialty crop markets, urban agriculture, and community food security initiatives. The average American farmer is 55-64 years old and approaching retirement, therefore, expanding access for new farmers is essential to ensuring long-term sustainability of domestic food production.  

In the USDA’s termination letter on March 2026, they argued that the ILCMAP promoted DEI, was discriminatory, wasteful, misused taxpayer dollars, and was not effective in improving land access. Supporters of the cancellation argue that federal programs should not target particular demographic groups and that removing DEI-associated initiatives restores fairness by treating all farmers equally. Critics counter that equal treatment within bias systems perpetuates inequality rather than correcting it. They point to the long history of agricultural policy that has shaped who gets land, who gets credit, and who can survive in the farm economy. The debate surrounding the canceled program reflects a broader national argument over whether equity-focused policies constitute unfair preference or a necessary response to documented civil rights violations and exclusion. 

At its core, the USDA’s cancellation of the land access program raises a fundamental question about agricultural opportunity and the role of public investment in expanding participation. Farming land remains foundational in shaping who can farm, who accumulates wealth, and who participates in rural economic life. While the removal of this initiative does not erase historical disparities in agriculture, it alters the mechanisms through which access challenges may be addressed moving forward. 

Major initiative supported by Truist Foundation 

FOR IMMEDIATE RELEASE   

ORLANDO, Fla. — April 22, 2026 —The African American Alliance of CDFI CEOs (The Alliance) joins the Veteran Loan Fund (VLF), a national effort of Community Development Financial Institutions (CDFIs) advancing economic opportunity for military-connected entrepreneurs.  

The initiative is supported by Truist Foundation, through a grant to PeopleFund, Texas’ member of VLF, to establish and scale the Accelerator nationally through VLF. This partnership includes the launch of a Veteran & Military Spouse Business Accelerator designed to increase access to capital, training, and business support for Veteran and Military Spouse entrepreneurs nationwide.

Through this initiative, The Alliance will support its members by assessing capital, capacity, and service needs of veterans in the communities they serve. 

“We are honored to serve as a member of the Veteran Loan Fund network,” said Amber Banks, President & CEO of The Alliance. “This partnership strengthens our ability to equip our members with the capital, tools, and insights needed to support veterans and their families in building sustainable, thriving businesses.” 

The Veteran and Military Spouse Business Accelerator uses a coordinated model that delivers business education and mentorship, capital readiness and financial training, marketing and operational support, access to affordable loan capital and grants. Participants will complete a free, 8-week program combining weekly instruction, structured assignments, one-on-one business coaching and free access to LivePlan a business planning and financial forecasting platform used to build plans, model projections, and track performance.

Those who successfully complete all program requirements will receive ongoing technical assistance for up to three years, access to up to $350,000 in loan capital, a grant ranging from $3,000 to $5,000, and complimentary access to the Business Beyond Battlefield Conference at the National Medal of Honor Museum in Arlington, Texas in October 2026. 

The program is delivered in collaboration with member CDFIs and veteran-serving organizations, with the University of Texas at Arlington Veterans Business Outreach Center (UTAVBOC) and the Veteran Women’s Enterprise Center (VWEC) leading the curriculum and content delivery. 

Through this initiative, VLF aims to deploy an additional $15 million in loans and up to $1.5 million in grants, supporting approximately 300 Veteran and Military Spouse entrepreneurs and helping create or retain 1,500 jobs within the next year. 

Veterans and Military Spouses nationwide can learn more and apply to participate in the Accelerator here. 

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About Veteran Loan Fund: 

The Veteran Loan Fund is a national effort of a growing number of Community Development Financial Institutions (CDFIs) and specialized technical assistance partners dedicated to helping Veterans and Military Spouses start and grow small businesses. Member CDFIs currently include Access to Capital for Entrepreneurs (GA), Ascendus (NY), Appalachian Community Capital (VA), BBIF (FL), Business Impact Northwest (WA), Colorado Enterprise Fund (CO), DreamSpring (NM), Economic and Community Development Institute (OH), Justine Petersen (MO), Pathway Lending (TN), PeopleFund (TX), Pursuit (NJ), Wisconsin Women’s Business Initiative Corporation (WI) and members of African American Alliance of CDFI CEOs. Learn more at www.veteranloanfund.com. 

About The African American Alliance of CDFI CEOs    

The African American Alliance of CDFI CEOs (The Alliance) is a national coalition of 90+ CEOs of Black-led Community Development Financial Institutions (CDFIs), comprising loan funds, mission-driven organizations, credit unions, venture capital firms, and non-profit developers. Since 2018, The Alliance’s network collectively services all 50 states and the District of Columbia. Learn more about The Alliance and its programs at http://www.aaacdfi.org.  

About Truist Foundation 

Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an opportunity to thrive. Embodying these focus areas are the Foundation’s leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truistfoundation.org. 

Media Contact: 

Iyanna Peoples  

Associate, Marketing & Communications   
African American Alliance of CDFI CEOs   
[email protected], (910) 518-9201