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.
The African American Alliance of CDFI CEOs is piloting a new program aimed at strengthening the ability of members to advocate for policy reforms in their communities that accelerate housing justice.
We are seeking an expert with experience navigating state and local politics as well as cultivating advocates and organizers to empower our network of 100+ Black-led CDFIs across the country.
Key consultant activities will include curriculum design and delivery, research into local housing and political ecosystems, coaching on member advocacy strategy, toolkit development, and advising the Alliance on program sustainability.
The selected consultant will be responsible for achieving the following objectives:
Deliver a structured, facilitated training that empowers members to influence local housing advocacy ecosystems through bipartisan coalition-building and anti-racist policy change.
Deepen The Alliance and its members’ understanding of state and local policy ecosystems and how CDFIs can influence these ecosystems to achieve anti-racist policy change in housing.
Prepare members to practice their advocacy skills during advocacy days, public hearings, advisory councils and other policy-making venues.
Create the infrastructure for The Alliance to sustain and improve upon this program in the future.
This program will fulfill one of three goals included in the Alliance Housing Initiative’s Roadmap, the Alliance’s plan to support its members to increase their impact on housing justice initiatives and build a more equitable housing landscape in the communities they serve. The Roadmap is available for download here.
If you are interested and want to learn more, read our Request for Proposal here. Send a letter of intent to apply by February 21, 2025, and submit a full proposal by March 3, 2025.
Under the leadership of President and CEO James H. Bason, TruFund Financial Services, Inc., the organization continues its mission of fostering economic and social justice. Headquartered in New York City, TruFund operates in New Jersey, Alabama, Louisiana, Texas, and Georgia. As a Community Development Financial Institution (CDFI), TruFund has been serving underserved small businesses, nonprofits, and individuals since 2005. By providing affordable capital, business advisory services, and capacity-building programs, TruFund addresses systemic financial inequities while building stronger, more resilient communities.
Since joining the African American Alliance of CDFI CEOs in June 2019, TruFund has found a natural synergy with its mission to advance financial equity and inclusion. As one of the original members engaged in the formation of The Alliance, James H. Bason has been deeply committed to its vision from the start. Through participation in The Alliance’s Investment Committee, Bason and his team have connected with like-minded organizations, sharing strategies and solutions for addressing systemic inequities. He values the opportunity to collaborate with other professionals who share a passion for creating economic opportunities, noting that The Alliance fosters a collective sense of purpose that drives systemic change.
Defining Black Financial Leadership and Success With 14 years at the helm of TruFund and over 30 years in community and economic development, Bason measures success by the tangible impact of TruFund’s work. By bridging financial gaps, enabling small businesses to thrive, creating sustainable jobs, and advocating for policies that promote financial inclusion, he is driving change at every level. His leadership is driven by fostering innovation, building high-performing teams, and creating partnerships that amplify impact.
One of TruFund’s most transformative initiatives is the Real Estate Acquisition Program (RAP). This program offers up to 90% financing and technical assistance to help small business owners acquire real estate, thereby stabilizing costs, avoiding displacement, and creating opportunities for wealth building. Real estate ownership, as Bason explains, is transformative. It secures a business’s future while fostering stability and equity in communities.
Owner Cassandre Davilmar poses outside of Lakou Cafe with Juan Carlos Cabaza, Portfolio Asset Associate at TruFund Financial Services, Inc.
One prime example of TruFund’s impact is its support of Lakou Cafe, located in Weeksville—a historic neighborhood founded by free African Americans and now part of Crown Heights in Brooklyn, New York.With TruFund’s RAP loan, entrepreneur Cassandre Davilmar purchased a 2,000-square-foot building housing her Haitian fusion café and two apartments leased to local residents. The café employs 12 individuals and has become a hub for community engagement, featuring a bulletin board for local artists and events. TruFund’s support has helped ensure the café’s long-term success while contributing to the economic vibrancy of the neighborhood.
Building on the Legacy of Black Pioneers Advancing financial equity comes with significant hurdles, particularly the deep-rooted mistrust in financial institutions due to historical exclusion. TruFund is actively working to rebuild trust through investment, advocacy, transparency, and education. By tailoring financial services to Black entrepreneurs, the organization has expanded capital access in marginalized communities.
When we asked Bason to share his thoughts on The Alliance’s Black History Month theme, he shared that “Black History is Financial History” is a powerful reminder of the vital role that Black individuals and institutions have played in shaping America’s economic landscape.
“Personally, it’s a source of pride and inspiration, recognizing the resilience and ingenuity of Black pioneers who overcame systemic barriers. Professionally, it is a call to action, reminding us of the importance of continuing their legacy by dismantling financial inequities and creating pathways to economic empowerment for Black communities,” said Bason.
Individuals and organizations can be a part of the change by supporting CDFIs and other mission-driven financial institutions. Additionally, those who support the mission can advocate for equitable economic policies, spread awareness about the importance of financial inclusion, and invest in underserved communities.
Through innovative programs and a steadfast commitment to justice, TruFund Financial Services is honoring the legacy of Black financial pioneers while creating transformative opportunities for communities nationwide.
To learn more about James H. Bason and TruFund, visit their website at www.trufund.org.
As we embark on a new year filled with promise and opportunities, we’re delighted to announce the election of our new members to The Alliance’s Board of Directors. Please join us in welcoming Hilda Kennedy, Ron Brooks, and Gene Gelgelu to our leadership team. Their exceptional expertise, unwavering passion, and shared commitment to our mission will be instrumental in advancing our efforts to empower Black-led CDFIs and closing the racial wealth gap.
Hilda Kennedy is the Founder and President of AmPac Business Capital and has been a dedicated Alliance member since 2019. As a key contributor to the Advocacy & Partnerships Committee, Hilda will continue fostering strategic collaborations and amplifying our collective voice to drive impactful change.
Ron Brooks, President of River City Capital, joined The Alliance in 2021. With a strong track record of leadership in community development, Ron’s insights will greatly enhance our mission to support Black-led CDFIs.
Dr. Gene Gelgelu, Founder and President & CEO at African Economic Development Solutions, joined the Alliance in 2020. Under his leadership, Dr. Gelgelu has incubated numerous culturally specific businesses and launched Little Africa, a creative placemaking effort in the heart of Saint Paul.
The 2025 Board of Directors is composed of a distinguished group of leaders:
Donna Gambrell – Chair
Watchen Bruce – Vice Chair
Van Hampton – Secretary
Marshall Crawford – Treasurer
Hilda Kennedy – Newly Elected
Ron Brooks – Newly Elected
Gene Gelgelu – Newly Elected
A strong, unified board has been essential to driving meaningful change and ensuring the success of our mission.
The Alliance extends its heartfelt gratitude to Calvin Holmes and Victor Elmore, who are retiring after their distinguished service as inaugural board members. Both leaders have been appointed as non-voting (emeritus) members, in recognition of their invaluable contributions to the foundation and growth of The Alliance. Their leadership and dedication have left an indelible mark on our organization.
We look forward to working alongside our newly elected members and the entire board as we continue advancing the vital work of The Alliance.
The year 2024 is recorded to be the hottest year in history. By 2030, major economies will have to cut carbon emissions by half to slow the accelerating effects of global warming. This challenge is especially critical in climate-vulnerable communities, which are disproportionately impacted by environmental degradation and populated by Black and Brown people. However, threats to programs that seek to address those in dire need of help put our national and the global environment at significant risk.
Environmental Inequities: A barrier to Justice and Mobility
Black and Brown populations are reported to bear the brunt of climate change due to their proximity to polluting industries, lack of green spaces, and heightened vulnerability to extreme weather, flooding, and poor air quality. These environmental inequities exacerbate existing disparities in health, economic opportunity, and social mobility. Despite these challenges, these are also the communities that are historically excluded from green energy initiatives, even though they need it the most – 80% of clean energy investments are concentrated in red states, perpetuating the damaging cycle of political polarization and its echo. By Prioritizing environmental justice, we can ensure all people, regardless of race, income, or geography, have equal access to a clean and a healthy environment in which to live.
CDFIs: Catalysts for Change in the Green Economy
For the African American Alliance of CDFI CEOs (Alliance), green investments are not just an environmental imperative; they represent an opportunity to build healthier, more resilient, and economically vibrant futures for all, including underserved populations. Since its inception, the Alliance has actively pursued social and economic funding opportunities, like the Greenhouse Gas Reduction Fund (GGRF), that position CDFIs and the communities they serve to benefit from the evolving green economy. In 2023, the Alliance launched its Environment and Climate initiative (E&C), with the goal of equipping members with the education, technical assistance, and resources necessary to expand their expertise in providing green products and services. An important part of our E&C efforts is to provide access to capital for lending in the green space. The Alliance is committed to closing the gap between existing environmental disparities and the realization of environmental justice.
A Path Forward: The Role of Donors in Advancing Justice
The Inflation Reduction Act presented an opportunity for BIPOC-led financial institutions to acquire the green investment and technical assistance capital necessary to help underserved communities become active participants in the green economy. To seize these opportunities, the Alliance co-led the Community Builders of Color Coalition (CBCC), a national network of 18 organizations who advocated to ensure BIPOC communities would actively receive and benefit from the capital with a stated purpose to assist them. Through CBCC’s nonprofit arm, the Justice Climate Fund (JCF), the organization successfully secured $940 million in GGRF funding.
This funding will help CDFIs and MDIs prepare and offer green capital and technical assistance in their primarily low-to-moderate income and underserved BIPOC markets, while supporting community efforts that can lead to the creation of green jobs in undercapitalized communities. This initiative and others like it exemplify how the Alliance empowers Black-led CDFIs to build their capacity, secure resources, and drive meaningful change that benefits everyone. However, there are some limitations to the program and sustained progress requires robust donor support.
How Donors Can Support the Movement
With your help, the Alliance can continue its E&C and other programs that strengthen the capacity of our members. Your contributions can also assist us in helping our members access the capital they need to deploy in underserved communities throughout the nation. As a donor, your support will help us do the following specific things:
Support Black-led CDFIs who provide competitive capital, training, affordable housing, and community facilities to marginalized entrepreneurs and consumers.
Provide programs that address the racial disparities Black-led CDFIs face when working to support low-to-moderate income and other underserved communities.
Invest in research that quantifies the impact of CDFIs on dismantling racial wealth disparities.
Facilitate the continuing partnerships between CDFIs, MDIs, other community development organizations, and advocacy groups to advance collaborations and policies that can remove systemic barriers to economic opportunity for the underserved.
Equip CDFIs with the strategies needed to collaborate and advocate for impactful policy change at local, state, and federal levels.
Drive public awareness of the role CDFIs, especially Black-led CDFIs, play in advancing racial economic equity.
CDFIs stand at the intersection of justice, innovation, and impact. Investing in their capacity is not only a step toward achieving environmental equity but also a commitment to creating a more inclusive and just economy.
With your support, the Alliance can continue to advance its mission of empowering Black-led CDFIs to drive environmental justice and economic mobility in underserved communities. Together, we can create lasting, and meaningful change, ensuring a brighter, more equitable future for all the generations to come. Donate to The Alliance today and Help Us Help ALL of Us!
On November 21, 2024, the CDFI Fund announced FY 2024 CDFI Program Technical Assistance (TA) and Financial Assistance (FA) Awards. Among the selected organizations, The African American Alliance of CDFI CEOs and 31 Alliance Members received over $30 million in FA and TA grants.
The purpose of the awards is to build each organization’s capacity to provide financial products and services to low-income and underserved people and communities across America.
Congratulations to all Alliance Members on receiving CDFI Program awards!
Below is a breakdown of the Alliance Members awarded FA and TA awards.
Financial Assistance (FA) Awardees:
African Development Center
African Economic Development Solutions
Albany Community Together, Inc.
Appalachian Community Capital Corporation
Black Business Investment Fund, Inc.
Capital for Change
Capital Impact Partners
Chicago Community Loan Fund
CommunityWorks
Enterprise Community Loan Fund, Inc.
Growth Partners Arizona
Harlem Entrepreneurial Fund, LLC
Hope Federal Credit Union
Housing Partnership Fund, Inc.
Institute Capital, Inc.
Lowell Community Loan Fund
Neighborhood Development Center
Nonprofit Finance Fund
Northwest Side Community Development Corporation
ProsperUs Detroit Micro Lending
River City Capital Investment Corporation
Southern Bancorp, Inc.
True Access Capital Corporation
TruFund Financial Services, Inc.
Technical Assistance (TA) Awardees:
African American Alliance of CDFI CEOs
African Chamber of Commerce of Colorado, USA (ACCCUSA)
Grant to Fuel Environmental Justice Training for Black-led Community Lenders
ORLANDO, Fla. – TheAfrican American Alliance of CDFI CEOs (The Alliance) announced a $250,000 grant awarded from the Mastercard Impact Fund through the Mastercard Strive USA program , aimed at advancing inclusive economic growth and supporting small businesses nationwide. Mastercard Strive USA’s support boosts The Alliance’s mission to drive economic justice and close the racial wealth gap in underserved communities, by focusing on wealth-building for Black communities.
Through this significant partnership, The Alliance’s Environment and Climate Technical Assistance Program will provide Alliance members with valuable resources, training, and tools to enhance their provision of green lending and development services. Members will gain access to specialized training sessions, webinars, and preparatory tools to help them secure Greenhouse Gas Reduction Fund (GGRF) capital and comply with its requirements.
“Persistent inequities in funding and access have hindered Black-led Community Development Financial Institutions [CDFls] from accessing the capital and resources needed to be prepared to assist underserved communities and entrepreneurs to address environmental and climate issues to reduce carbon emission,” said Lenwood V. Long, Sr., CEO of The Alliance. “This partnership with Mastercard Strive USA underscores The Alliance’s commitment to providing our members with innovative financial tools and resources, ensuring that small businesses and entrepreneurs have the support they need to thrive in a sustainable and inclusive economy.”
Mastercard Strive USA is recognized for its commitment to inclusive economic empowerment and strengthening communities through strategic investments in community-focused organizations.
“Small businesses, and particularly underserved small businesses, need to not only benefit from the country’s transition to renewable energy but be part of that process,” said Sandy Fernandez, vice president for social impact for North America at the Mastercard Center for Inclusive Growth. “This grant will help Alliance members and their communities to access and participate in opportunities and funding related to renewable energy projects. We are thrilled to welcome them to Mastercard Strive USA.”
Together, The Alliance and Mastercard Strive USA are excited to advance a shared mission of equipping communities and small business owners to thrive in today’s evolving economic and environmental landscape.
To learn more about The Alliance’s mission and initiatives, visit https://aaacdfi.org/.
About the African American Alliance of CDFI CEOs The African American Alliance of CDFI CEOs (The Alliance) is a coalition of nearly 108 CEOs of Black-led Community Development Financial Institutions (CDFIs) and mission-driven organizations, comprising loan funds, 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. As a result, members are uniquely positioned to address issues related to housing and access to capital for African American populations and communities. Learn more about The Alliance and its programs at https://aaacdfi.org/.
About Mastercard Strive USA Mastercard Strive is a portfolio of philanthropic programs supported by the Mastercard Center for Inclusive Growth and funded by the Mastercard Impact Fund. Since it was launched in 2021, Mastercard Strive has supported over 10 million small businesses globally build resilience in the digital economy by helping them go digital, get capital, and access networks and know-how. Follow Mastercard Strive on LinkedIn and subscribe to the newsletter.
The African American Alliance of CDFI CEOs recognizes the significance of last night’s election results and the unique challenges and opportunities they bring for Black communities and the institutions dedicated to their progress. While the outcome may not mirror the hopes and aspirations of many we serve, we are steadfast in our mission to work with the new administration in advancing a more inclusive and equitable economy. Our commitment remains: to ensure every American, particularly those who have been historically underserved, has full access to the resources and opportunities necessary to thrive.
In his victory speech, President-elect Trump expressed a desire to be a unifying force and a president for all Americans. This is a significant commitment, one that speaks directly of the deep divides we face as a nation. It is our hope that this promise extends beyond words to concrete action—policies that bring meaningful change to Black entrepreneurs, small businesses, and communities across the country.
That said, we know that change requires accountability, and we are prepared to hold the new administration to its word. We are eager to engage in a dialogue about real solutions, to ensure that the promises of unity and opportunity become realities for all Americans. We also invite the incoming administration to support CDFIs as critical vehicles for economic justice, financial inclusion, and sustainable growth for Black-owned businesses. By doing so, we can stand by our mission to bridge economic gaps and work toward a future where economic justice is not just a hope but a guarantee.
Now, more than ever, we are called to come together, heal, and build. The path forward will not be easy, but our resolve to make a lasting impact for Black communities remains as strong as ever. In the words of Dr. Martin Luther King Jr., ‘We must accept finite disappointment, but never lose infinite hope.'”
We are heartbroken by the devastation and loss of life caused by Hurricane Helene, which has ravaged Southeast North Carolina and other parts of the Southeast. With more than 190 lives lost—over half of them in North Carolina—this disaster has left a trail of destruction that will forever change our communities. Entire neighborhoods have been wiped out by the fast-moving floodwaters, and hundreds of individuals remain missing. The pain is immense as families struggle to cope with this overwhelming tragedy, while authorities work to identify the dead.
Our thoughts are with the families who have lost loved ones and those still anxiously awaiting news of missing relatives. The small businesses and communities served by Alliance members have been especially hard-hit. Many of these businesses, which have long been the backbone of their local economies, now face unimaginable challenges.
The floodwaters have not only destroyed physical storefronts but also shattered the livelihoods of countless entrepreneurs who provide essential goods, services, and jobs across Southeast North Carolina. As extreme weather events like Hurricane Helene become more frequent and severe, they further stress already inadequate housing, infrastructure, and health resources in our most vulnerable communities. This devastation underscores the urgent need to address climate change and its disproportionate effects on disadvantaged populations, while also highlighting the importance of access to capital, financial literacy, and resources that can help businesses build resilience in times of crisis.
Alliance members have long been committed to serving the most vulnerable communities, and now, more than ever, we are standing with them. As the full extent of Hurricane Helene’s impact continues to unfold, we call on all sectors to unite in supporting the people and businesses of Southeast North Carolina.
We remain resolute in our commitment to uplifting these communities. If you have been affected by the storm and need shelter or assistance, here’s a list of shelters. If you were impacted and reside in one of the impacted counties, you can now apply for assistance with FEMA by visiting disasterassistance.gov.
If I were to offer you an opportunity, which would you prefer: one that will provide you with $256,000 or $31,250 for the same effort? If I gave you the freedom to pursue the $256,000 opportunity, would you try to prevent me from giving that same level of opportunity to everyone else? Seriously, think about your answer to this question because this is the situation we have faced in this nation for more than a century; Certain people who want to take advantage of opportunities are inhibited by others that have already been given the opportunity. Why is this the case when there are more than enough opportunities for those that want them? The issue is and has always been prevention. We invite you to imagine.
First, U.S. wealth by race is not in balance. Let’s take a look at some of the data from trusted sources. According to the U.S. Census Bureau’s 2022 data, the average net worth of a White household is $256,000 while that of a Black household is just $31,250, the lowest of any racial or mixed-race group. In 2021, 80% of the wealth in this country was owned by White people who make up just 65% of the population and Black people held just 4.7% of the wealth although they were 13.6% of the population.[1] More than 73% of White Americans own their home while just 42% of Black Americans do. The recent jump in home values thus provided an even greater increase in equity or access to capital for White Americans while Black Americans were further cash strapped by higher rents.
Now, let’s look at the reports from the U.S. Department of the Treasury and others on race and the economy.
“The racial gaps in economic security in the United States are stark and have been exacerbated by policies that hinder people of color from building wealth. Moreover, inequitable policies and practices that prevent wealth-building by some groups have been shown to negatively impact economic security for all.”[1]
The, “…large disparities in wealth by race [is] a serious concern for the economic health of families and the U.S. economy as a whole.” Furthermore, The Treasury under Secretary Yellen wrote in their 2024 report, “Treasury has designed and implemented an ambitious racial equity agenda to address longstanding disparities in investment and opportunities that keep some communities from fully benefiting from and contributing to the nation’s economic growth and prosperity. This agenda is integral to the Treasury’s overall mission, which is to maintain a strong economy by promoting conditions that enable equitable and sustainable economic growth at home and abroad, combat threats to and protect the integrity of the financial system and manage the US government’s finances and resources effectively.” [2]
Racial economic equity is therefore critical to our success and even survival as a nation. Therefore, energy and capital should not be wasted working to prevent the most economically depressed population from accessing capital that will allow them to contribute to the building of this, our shared economy.
One way the Treasury works to provide access to capital is by supporting CDFIs (Community Development Financial Institutions) which are entities they certify and oversee, ensuring they provide capital and technical assistance to underserved small businesses, developers, and consumers. These underserved borrowers are largely low-to-moderate income (LMI) and BIPOC (Black, Indigenous and People of Color). However, there is racial disparity even among CDFIs. A Hope Policy Institute study showed that White-led CDFIs grew their assets nearly 32 times greater than the growth of BIPOC-led CDFIs during a three-year period.[3] That is where the African American Alliance of CDFI CEOS stepped in.
The Alliance is a national, membership-driven, intermediary organization that as its mission 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. We are committed to closing the racial wealth gap through our work with Black-led CDFIs.
Why Black-led CDFIs? Because they are at the forefront of supporting underserved LMI, BIPOC and particularly Black communities that are trying to overcome racial inequities in lending and other types of finance. In her 2021 comments regarding the government’s support for CDFIs, Secretary Yellen mentioned that in 2020, 71 percent of all venture funding was concentrated in just four metropolitan areas.[1]
“This is a very unjust aspect of our economy…But I would also add: It’s a very unhealthy aspect of our economy. If you were designing a well-functioning American economy, you wouldn’t have 70 percent of capital (in any form) flowing to just four cities. Because that’s not where 70 percent of the opportunity is. We – as a country- are missing out on so many avenues for growth because our capital is bottlenecked by race and region.”
In 2021, the Fed’s small business survey indicated that over the prior year, 40% of all White-owned businesses received all the non-emergency funding they applied for while just 13% of Black-owned firms did even when credit and other factors were similar. Greater access to capital is needed to help Black-owned businesses implement and build generational wealth through their business plans as their White counterparts have had the privilege to do for more than a century.
Through our programs, initiatives and policy and research work, the Alliance helps African American CDFI leaders get the support and capital they need to in turn help underserved entrepreneurs build wealth and contribute to a thriving economy. Members serve all 50 states and U.S. territories, and they provide capital, training, and technical assistance to underserved entrepreneurs engaged in small business, affordable housing, community development, health, and education, helping them to grow sustainably toward closing the racial wealth gap.
What the Alliance does matters, and it works! Over the last three years, our surveys show that more than 80% of those served by our members are LMI and BIPOC, and our members have significantly increased their lending and technical assistance capacity by more than 25%. But much more needs to be done to meet the needs of underserved BIPOC entrepreneurs.
“The racial gaps in economic security in the United States are stark and have been exacerbated by policies that hinder people of color from building wealth. Moreover, inequitable policies and practices that prevent wealth-building by some groups have been shown to negatively impact economic security for all…Policies that address racial wealth disparities, therefore, have the potential to benefit all Americans not only by spurring economic growth but also through public investments that benefit everyone.”[1]
The Alliance is doing its part, and we ask you to join us! By supporting the Alliance, you will help our more than 100 members expand their offerings and increase their capacity to provide capital to entrepreneurs who have been largely excluded from traditional sources of finance. You will also support the Alliance in continuing its national efforts to make access to capital more equitable for everyone. Donate to the Alliance today andHelp Us Help ALL of Us!
For more information, please visit our website aaacdfi.org
