News and Events Type: News

FSC First Team Stands with Pitch Competition Winners

In every era of progress, there are leaders whose vision and resolve shape the future. Today, the call is clear: our economy needs champions who are passionate about creating pathways of opportunity for Black entrepreneurs.  

Dawn R. Medley, President & CEO of FSC First, is a leader who understands that unlocking capital, fostering innovation, and investing in Black-owned businesses is a movement toward justice, equity, and wealth. As a member of the African American Alliance of CDFI CEOs (The Alliance), FSC First supports small business owners with 12 distinct loan products—delivering innovative, inclusive financing solutions that empower entrepreneurs and create clear pathways to growth for underrepresented and underserved communities. 

Closing Gaps: “0 to 100” Accelerator Program 

Black entrepreneurs often lack access to strong financial documentation, operational tools, or a reliable internal team. FSC First created the “0 to 100” Accelerator Program to close those gaps, offering structure, accountability, and training that enables growth-stage entrepreneurs to scale successfully and sustainably. Since 2023, FSC First has partnered with M&T Bank to host the 8-week program’s English-language cohort, awarding $10,000 in prizes to three outstanding business owners and reflecting a shared commitment to providing local entrepreneurs with the capital, guidance, and connections they need to succeed. 

On June 18, 2025, a live pitch event and graduation celebration was hosted at 21st Century Expo in Hyattsville, MD—a venue owned by a former FSC First client and current participant. That full-circle moment captured the true spirit of the program: sparking business growth, reinvesting in the community, and creating lasting economic impact. 

Pathway to Participation in the Program 

Applicants, managed through M&T Bank, had to meet specific eligibility criteria: 

• Business must be located in Prince George’s County 

• Must be in good standing with the State of Maryland 

• Must have been operating for at least two years 

• Must have earned $100,000+ in annual revenue (new criteria for 2025) 

Spanning industries such as technology, arts and entertainment, childcare, and tourism, the diverse group of entrepreneurs showcased strong potential and demand but needed structure and support to scale their businesses to the next level. 

The five finalists that advanced to the final pitch competition had three minutes each to pitch and two minutes for the judges to conduct a Q&A session. The judging panel (a successful business owner, a FSC First business development associate, and M&T Bank senior executive) offered feedback and encouragement to help participants refine their ideas and communication, while evaluating each pitch on clarity, viability, community impact, and presentation quality. 

The 2025 “0 to 100” Small Business Accelerator Pitch Competition winners were: 

• Tiyana Robinson, Beauty Mogul International, LLC – $5,000 and an additional $1,000 grant to support marketing efforts and technology enhancements 

• Dominyece Gregory, Tuft’n Up DC LLC – $3,000 

• Josei Harris, Halema Inc – $2,000 

The winners stood out for their strategic vision, creativity, and readiness to scale while keeping community impact at the core of their work. One winner aims to further develop a new software feature, while another will revamp their website and strengthen marketing efforts.  

“The most valuable part of the program was having access to our mentors,” said Tiyana Robinson, Founder of Beauty Mogul International, LLC. “Every single session, I walked away with something new. This isn’t my first business—I’ve already scaled a company to seven figures—but it is my first time building a software business. Even with my experience, I still learned so much through this program. The quality of education was excellent, and the intimate group setting allowed us to connect, ask questions, and get real answers when we needed them. If I had to sum up the program in one word, it would be access—and I deeply appreciate that.” 

Beyond financial prizes, participants received leadership coaching to strengthen mindset and strategic planning, a professional content day with FSC First’s team capturing business photos and videos for free, and exclusive loan incentives from Medley, making it easier for participants to access capital. 

Lasting Impact in Prince George’s County 

Extending its impact beyond the accelerator, FSC First equips entrepreneurs with capital, advisory services, and educational programming created to support small business growth. From 2022 and 2025, FSC First has supported 5,252 businesses, facilitated 259 technical assistance programs, and dedicated 391 hours of personalized coaching to help entrepreneurs grow and thrive. 

For entrepreneurs looking to grow their business, FSC First shares this inspirational message: Start where you are. Build your team. And don’t try to do it alone. There are a range of services individuals can stay engaged with to support their journey: 

• Ongoing loan programs 

• One-on-one business advising 

• Workshops and technical assistance sessions 

• New training opportunities announced via FSC First’s website and newsletter 

• The Commercial Line of Credit (LOC) that provides accessible capital to help small businesses grow 

The accelerator program stands as a powerful example of The Alliance’s mission to build bridges to economic stability and expand Black wealth.  

Learn more on how FSC First is building a stronger, more inclusive small business ecosystem in Prince George’s County at fscfirst.com.  

With a spirit full of purpose, innovation, and legacy, The Alliance held their third in-person Annual Meeting & Conference in Charleston, SC, from June 24 – 27, 2025. Anchored in the theme, “The Power of Service: Leading with Purpose, Serving with Passion,” this year’s conference paid tribute to the visionary leadership and unwavering commitment of The Alliance’s founders including Donna Gambrell, President & CEO of ACC; and Lenwood V. Long, Sr., CEO of The Alliance. Born from a vision of collective strength, The Alliance has championed Black-led CDFI CEOs through targeted programs and support that expand their impact. 

Additionally, the conference honored the services of Lenwood V. Long, Sr., The Alliance CEO who is retiring at the end of the year. During our Family Reunion Style Dinner & Game Night, Long shared heartfelt remarks and offered trailblazing advice alongside CDFI industry leaders Donna Gambrell and Victor Elmore, President of Texas Mezzanine Fund.

As the keynote speaker for the Sneaker Ball: Formal Dinner & Awards Ceremony, Long anchored his remarks with the reminder, “as others have labored and we enter into their labor,” as he reflected on the organization’s founding, highlighting the power of a committed team and the importance of creating something meaningful in uncharted territory designed solely to serve our communities and uplift Black CDFI leaders. Donna Gambrell was amongst those early, steadfast leaders who shared his belief in the mission of The Alliance and helped bring it to life. Driven by conviction, Long carried the organization through its first year single-handedly guided by unshakeable determination to create a lasting change for Black-led CDFIs and the communities they serve. 

In his stylistic way, he ended the keynote address by emphasizing the vital role Black-led CDFIs play in our communities and offering gratitude to the members, Board, and staff for their unwavering devotion and support. With powerful and encouraging words, Long spoke to the importance of legacy and leadership, underscoring the significance of passing the baton to our President & CEO Amber Bank in 2026. 

The conference was expanded to four days with the intentionality to allow more time for meaningful networking, deeper collaboration, and enriched learning. There was a dynamic mix of member and partner-led breakout sessions. Sessions explored key topics such as scaling impact, leveraging the emergence of artificial intelligence, advancing climate finance, and exploring opportunities to scale micro-finance products. 

In addition, the convening included insightful panel discussions that reflected the evolving priorities of the CDFI industry. A new panel was introduced with the focus of helping members adopt a funder’s perspective in order to position their financial institutions to attract and secure capital. Each conversation was designed to equip attendees with forward-thinking strategies and actionable insights to drive lasting change in Black communities. 

Contributing to the energy and insight of the conference were engaging panels, keynote addresses, and remarks from influential voices, including: 

• Harold Pettigrew, CEO, Opportunity Finance Network 

• Marc Morial, President & CEO, National Urban League 

• Bakari Sellers, Attorney, Political Commentator, and Former Member of the South Carolina House of Representatives 

• Rodney Hood, Acting Comptroller of the Currency 

• Amber Koonce, Sr. Director of Legal Research & Development, PolicyLink 

• Xavier Ramey, Founder/CEO, Justice Informed 

• Cynthia Alston Bell, Sr. Marketing Consultant, Cumulus Radio Station Group 

• Torrence Moore, Head of Access to Capital, US Bancorp Impact Finance 

• Kim Weaver-McDonald, VP & Sr. Community Development Officer, First Citizens Bank 

• Tony Smith, SVP of Community Development – Territory Executive, PNC Bank 

• Alison Clark, Associate Director of Impact Investments, MacArthur Foundation 

• Nick Noel, Sr. Expert, McKinsey & Company 

• Edgar Romney, EVP & Chief Strategy Officer, Amalgamated Bank 

The conference concluded with the Closing Celebration Juneteenth Luncheon where Bakari Sellers, an attorney and political commentator, delivered an inspiring address. The afternoon wrapped up with a vibrant African dance performance that brought attendees to their feet in celebration. Throughout the conference, several Alliance members and staff were recognized for their outstanding contributions, embodying The Alliance’s mission.  

Congratulations to the award recipients:  

• Community Impact Award: Hilda Kennedy 

• Innovation Excellence Award: Tiffany Taylor 

• Equity in Housing Award: Marshall Crawford 

• Financial Empowerment Award: Tiffany Taylor 

• The Lenwood V. Long, Sr. “Good Trouble” Award: Watchen Harris-Bruce 

• Lifetime Achievement Award: Bill Bynum 

• Servant Leader Award: Watchen Harris-Bruce 

• Climate Justice Award: Deborah McKetty 

• Alliance Trailblazer Award: Victor Elmore and Calvin Holmes 

• Policy Trailblazer Award: Ryan Gremillion 

• Extraordinary Service Award: Charmaine Grafton 

• Visionary Leadership Award: Chavelle Sangokoya 

We extend our sincere thanks to all our members and allies for joining us, and a special note of appreciation to our sponsors for their generous support: W.K. Kellogg Foundation, South Carolina Community Loan Fund, JPMorgan & Chase, PNC Bank, TD Bank, The Housing Fund, First Citizens Bank, US Bancorp Impact Finance, Truist, Goldman Sachs, MacArthur Foundation, PaySoko Systems, Living Cities, LoanWell, Friedman Associates, the Kresge Foundation, Capital One, Ned, Thirdspace Action Lab, BCA Culture, Fifth Third Bank, Amalgamated Bank, LISC, and NCIF.  

The Alliance looks forward to advancing this critical work at the 2026 Annual Meeting and Conference in New Orleans, LA. 

The Largest National Convening for Black-led Community Development Financial Institutions 

For Immediate Release 

June 11, 2025 

CHARLESTON, S.C. – The African American Alliance of CDFI CEOs (The Alliance) announces its 2025 Annual Meeting & Conference, convening over 200 Black-led Community Development Financial Institution (CDFI) leaders, funders, speakers, and community advocates to advance economic justice within Black communities across the United States. This event will take place June 24–27, 2025, at the Charleston Marriott, 170 Lockwood Boulevard, in Charleston, SC. 

This year’s conference, The Power of Service: Leading with Purpose, Serving with Passion, represents a pivotal opportunity for funders, partners, and financial institutions committed to advancing racial equity through investment. The event is supported by numerous sponsors including South Carolina Community Loan Fund, PNC Bank, U.S. Bancorp Impact Finance, Goldman Sachs OMBW, Goldman Sachs UIG, and TD Bank.  

Attendees will have exclusive access to a dynamic lineup of programming designed to educate, inspire, and mobilize community development.  

Key conference focus areas include: 

• Insights from keynote speakers: Prominent figures and grassroots leaders will share actionable insights and visionary perspectives to inspire attendees to deepen their leadership, advocacy, and community-building work. 

• Equipping CDFI leaders with community solutions: Attendees will engage in skill-building sessions focused on strengthening organizational capacity and fostering innovation to broaden their reach and drive greater impact. 

• Opportunities for investment and partnership: A powerful opportunity for mission-driven investors and partners to engage with Black-led CDFIs exploring actionable ways to align capital with community-driven impact. 

“It is critical that Black-led CDFIs are supported as they continue to bridge historic capital gaps and drive long-term economic development in Black and disinvested communities,” said Lenwood V. Long, Sr., CEO of The Alliance. “Due to the shifting landscape, the need for equity-centered solutions increases. This conference offers attendees a unique opportunity to engage with visionary leaders and serves as a timely opportunity to invest in organizations that are transforming underserved communities and advancing small business growth nationwide.” 

The Conference will be a powerful convergence for leaders working to dismantle systemic barriers and build Black wealth. To learn more about The Alliance and its programs, visit https://aaacdfi.org/ 

For media inquiries or interview requests, please contact: 
Iyanna Peoples 
[email protected] /910-518-9201

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About The African American Alliance of CDFI CEOs   

The African American Alliance of CDFI CEOs (The Alliance) is a coalition of 120 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 http://www.aaacdfi.org. 

The first 100 days of President Trump’s second term have introduced major federal shifts with serious implications for Black communities and the Community Development Financial Institution (CDFI) sector. 

On May 2, 2025, the administration proposed a $100 million Rural Financial Award Program requiring 60% of CDFI activity to serve rural areas—potentially sidelining urban, majority-Black communities. Simultaneously, it called for a $291 million cut to the CDFI Fund’s discretionary grants, framing racial equity and climate-focused investments as political rather than economic priorities. 

Regulatory changes are also on the table. Section 1071 of the Dodd-Frank Act—which ensures transparency in lending to women- and minority-owned businesses—is under review. Meanwhile, the Consumer Financial Protection Bureau appears to be softening oversight, particularly in fintech, where safeguards are vital for inclusive lending. 

Additionally, the Minority Business Development Agency (MBDA) has been dismantled, eliminating one of the few federal entities specifically focused on minority-owned enterprises through technical assistance, access to capital, and federal procurement opportunities.  Simultaneously, environmental justice programs have been defunded, and key policy efforts like President Biden’s Executive Order 13985 have been rolled back. These changes further destabilize communities already facing disproportionate environmental and economic risk, while making support for Black-led CDFIs even more limited and difficult to access.   

Bottom line: This administration’s early agenda marks a clear shift away from inclusive finance. For Black communities and the CDFIs that serve them, federal support is shrinking just as momentum was building. The next round of budget negotiations will be critical in determining the future of equitable economic investment. 

Dear Friends and Allies, 

In 2018, I sat in a room with 22 visionary Black CDFI CEOs bound not just by profession, but by purpose and passion. That meeting held in Raleigh, NC, was the beginning of a movement. Every person shared the mission to close the racial wealth gap and uplift Black communities through economic justice, leading to the birth of The African American Alliance of CDFI CEOs. 

On May 10, 2020, The Alliance was officially incorporated as a 501(c)(3), boldly claiming our place in history and in service. Since that day, we have grown from an idea rooted in shared purpose to a national, 110+ member-led organization and force for change. Our work is grounded in the powerful truth that Black-led CDFIs are uniquely equipped to meet the needs of Black communities because we live in those communities, we lead in those communities, and we believe in their future.  

We’ve led unapologetically and remained committed to confronting the inequities in capital access for Black communities.

In five years, The Alliance has secured more than $50M in funding to strengthen our organization, drive our mission forward, and fuel our members’ efforts on the ground in the communities they serve. 

For The Alliance, the true measure of impact isn’t all in the numbers; it’s in the lives we touch. Through our collective efforts, small business owners gain access to capital they need to grow their dreams. Our members bring new housing investments in neglected neighborhoods. The businesses we support create jobs that help parents provide for their families and bring stability that nurtures hope. All of this is made possible through the powerful leadership of Black CDFI CEOs who are building legacies designed to shape the future for generations to come. 

Reaching this five-year milestone has been nothing short of extraordinary and it wouldn’t have been possible without the unwavering support of so many. I’m deeply grateful to our funders who believe in our vision, to the community leaders who continue to walk alongside us, our dedicated Alliance staff whose hard work and belief in our mission has been a driving force, and to the remarkable Black CDFI CEOs whose leadership and commitment are the foundation of this movement.  

What began as a dream has grown into a national force, and that has only happened because we built it together. This journey has always been a team effort and I’m profoundly thankful to each of you who helped bring it to life. 

The work we do represents the spirit of this powerful quote by Dr. Martin Luther King, Jr., who said, “Make a career of humanity. Commit yourself to the noble struggle for equal rights. You will make a greater person of yourself, a greater Nation of your country, and a finer world to live in.” 

As we celebrate five years, my heart is full of gratitude and excitement for the journey we’ve walked together and the deep belief that the best is still ahead. 

Be Steadfast! 

CEO Lenwood V. Long, Sr. 

Amber Banks-Bond to Assume Role as President & CEO, Continuing Legacy of Advancing Black Economic Justice 

FOR IMMEDIATE RELEASE 

May 6, 2025 

Orlando, Florida — The African American Alliance of CDFI CEOs (“The Alliance”) today announced that its esteemed Co-founder and CEO, Lenwood V. Long, Sr., will retire at the end of 2025. Since the Alliance’s official launch in 2020, Long has played a pivotal role in strengthening Black-led Community Development Financial Institutions (CDFIs)—quadrupling membership, raising more than $50M funds for The Alliance and $4.2M in grants to members. 

Under his visionary leadership, the Alliance has become a force in economic justice, advocating for Black-led CDFIs and their communities. With more than three decades of experience in economic development, Lenwood has led organizations through transformational growth, including his tenure at the Carolina Small Business Development Fund as visionary founder and president/CEO and as Chief of Staff for Congresswoman Eva M. Clayton. 

Stepping into the role of President & CEO will be Amber Banks-Bond, a seasoned leader committed to advancing racial and economic equity. As the current President, Amber brings a strong vision for the future of the Alliance and its continued impact on Black wealth-building and economic justice. 

“Leading the African American Alliance of CDFI CEOs has been my calling and one of the greatest honors of my life. From our first convening in 2018 to the national movement we’ve built today, I have witnessed the power of what’s possible when Black leaders unite with a shared vision for justice and self-determination. This work is rooted in love for our people, and I’m proud of the legacy we’ve created together,” said Lenwood V. Long, Sr., CEO of the Alliance. “As I pass the baton to Amber Banks-Bond, I do so with full confidence in her leadership and an unwavering belief in the continued rise of Black-led CDFIs and the communities we serve.” 

“Lenwood is a visionary leader whose unwavering commitment to economic justice and community development has elevated the voice and power of Black-led CDFIs nationwide,” said Donna Gambrell, Alliance Board Chair. “On behalf of the Board, I extend our deepest gratitude to Lenwood for building a strong and unshakable foundation. We are equally confident and proud to welcome Amber Banks-Bond as the next leader of the Alliance—her experience, passion, and strategic vision will carry this movement forward with strength and clarity.” 

“It is both an honor and a profound responsibility to follow in the footsteps of Lenwood. His leadership has not only shaped the Alliance but inspired a new generation of equity-centered financial leaders,” said Amber Banks-Bond, President of the Alliance. “I am deeply committed to advancing the mission he built—strengthening Black-led CDFIs, amplifying our collective voice, and building lasting pathways to generational wealth for Black communities across the country. I step into this role with gratitude, humility, and fierce determination.” 

The Alliance will celebrate Long’s leadership through a Thank You Tour in 2025, during which he will visit select members across the country to reflect on shared accomplishments and strengthen community ties, with a tribute at the June 2025 Annual Meeting and Conference in Charleston, SC. 

For media inquiries or interview requests, please contact: 
Iyanna Peoples 
[email protected] 

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About The African American Alliance of CDFI CEOs    

The African American Alliance of CDFI CEOs (The Alliance) is a coalition of more than 80 CEOs of Black-led Community Development Financial Institutions (CDFIs), 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 http://www.aaacdfi.org. 

Dear friends and allies, 

Today, I write to you with a heart full of gratitudeand yes, with a bit of bittersweet emotion as I announce that I will be retiring as CEO of the African American Alliance of CDFI CEOs at the end of 2025. 

This decision did not come easily. How could it, when this work has been my life’s calling? Since that powerful gathering in February 2018 when 22 Black CDFI CEOs gathered in Raleigh to launch this bold vision, I have had the honor of helping guide and grow what we now know as a national force for economic justice. What began as a convening of committed leaders is now a thriving coalition of more than 80 CEOs representing Black-led CDFI loan funds, credit unions, and venture capital funds in all 50 states and the District of Columbia.  We also added Associate Membership of more than 29 members which we nurture to become certified CDFIs.  

Together, we’ve built a movement. We’ve surpassed our fundraising goals, raising over $1 million in our first six months of operation.  We’ve shaped public policy, uplifted our communities, and strengthened the financial, organizational, and political power of our members.  To address the capital needs of members I added the Black Renaissance Fund which has raised more than $14M in capital within two years of launching.  

It’s been deeply personal. My work with HBCUs in North Carolina, my time serving Congresswoman Eva Clayton who mentored me and with whom I had the honor of serving as Chief of Staff, even my service as a U.S. Army veteran has played a significant role.  

Perhaps the most defining chapter of my career was the decade I spent rebranding and transforming the NC Minority Support Center as its co-founder and President/CEO. What began as a small nonprofit evolved under my leadership into what is known today as the Carolina Small Business Development Fun, a lasting testament to the power of vision, persistence, and belief in the brilliance of Black entrepreneurs.

Still, my greatest personal delight has been the 23 years I spent pastoring walking with people through their joys, struggles, and triumphs. That experience gave me not only a deeper understanding of service and faith, but a constant reminder that leadership is about love, accountability, and lifting others up. 

And while I’m proud of our wins, I’m most proud of the people: the CEOs, entrepreneurs, community leaders, and staff who’ve made this mission come alive. I’ve seen firsthand the resilience and genius in our communities, and I’ve fought every day to make sure they have the capital, the policy support, and the respect they deserve. 

But the sweetness in this moment comes from knowing the work will continue—and thrive—under new leadership. I am honored to pass the baton to Amber Banks, a powerful sister with the heart, vision, and tenacity to lead the Alliance into its next chapter. Amber understands the legacy we’re building because she’s lived it. She brings fresh eyes, deep wisdom, and a fierce love for our people.  I know her well, spending over 12 years watching her grow, being challenged and stretch as an awesome leader.  

I’ll be taking time over the next several months to visit many of you during our Thank you Tours to say thank you, to reflect, and to celebrate what we’ve built together. And at our Annual Conference in June, I look forward to standing beside you one more time to affirm this movement, this mission, and this moment. 

So yes, my friends, it is bittersweet. But more than anything, it is beautiful. Because we are proof that when Black leaders come together, rooted in purpose and powered by our collective voice, we can and will move mountains. 

Thank you for believing in me. Thank you for believing in us. And thank you for continuing this fight for economic justice for our people, and for generations to come. 

With love and deep gratitude. 

Be Steadfast! 
Lenwood V. Long, Sr. 
CEO 
African American Alliance of CDFI CEOs 

When people hear “financial literacy,” they often think of financial planning apps and spreadsheets. But for many of our neighbors, financial literacy starts with something even more fundamental: access.  

Gaining access to housing, capital, and tools that empower individuals to make informed choices are crucial steps towards accumulating wealth. This is where economic development plays a powerful role and why The African American Alliance of CDFI CEOs (The Alliance) invests in the growth and impact of CDFIs. 

Economic development is about creating ecosystems where people can thrive.  According to a report by the Initiative for a Competitive Inner City,  “residents of under-resourced communities make up 14% of the nation’s population, but 31% of the nation’s poor”. Many of these communities are concentrated in the Northeast and Midwest—where over 35% of Alliance member CDFIs serve. 

The Alliance believes that economic development must be people-centered, and it must prioritize the needs of communities that have an insufficient level of capital and resources. 

Since the issue of concentrated poverty is multifaceted, compensating for systemic racism alone is not enough to solve it. Which is why we strategically develop comprehensive programs, trainings, and initiatives to address those problems as they manifest themselves at a community level. Through our supportive housing program, we increase regional outreach to identify housing solutions and create pathways of opportunities for small business support, workforce development, and investment readiness.  

When we build the capacity of CDFIs serving underserved communities, we ensure capital reaches areas that are underinvested. When communities have equitable wealth-building opportunities, the impact is profound—not just for residents but for the broader economy. We believe economic development is key to lasting change and with your support we can make this change last. 

As we recognize Financial Literacy Month, we invite our partners, donors, and community members to see financial literacy not as a siloed initiative, but as a core part of how we build viable neighborhoods.  

Together, we can create an economy that works for everyone. Support The Alliance and donate today to invest in transformative change. 

Mobilizing Leaders and Pushing for Equitable Policies that empower CDFI Leaders and Underserved Communities Nationwide 

FOR IMMEDIATE RELEASE

April 8, 2025

WASHINGTON, DC – The African American Alliance of CDFI CEOs (The Alliance) joins community development leaders and policy advocates in Washington, D.C. on April 9, 2025, for Hill Day, an urgent call to action on behalf of underserved communities. This coordinated advocacy effort underscores the critical role CDFIs play in the financial ecosystem, managing over $300 billion in mortgages and loans that fuel small businesses, affordable housing, and commercial real estate development across the country. 

With a delegation of 80+ Black-led Community Development Financial Institution (CDFI) CEOs, The Alliance is advancing a targeted agenda for economic and community investment directly to lawmakers, centering equal access and lasting change in low-income communities.  

On this day of advocacy, The Alliance is meeting with congressional offices to discuss key policy priorities, including: 

• Securing full funding for the CDFI Fund so all CDFIs can finance small businesses, affordable housing, and community facilities. 

• Protecting the Greenhouse Gas Reduction Fund (GGRF) from claw backs that threaten clean energy investments in underserved communities. 

• Making the New Markets Tax Credit (NMTC) permanent, ensuring long-term incentives for private investment in low-income communities; and 

• Sustaining funding for critical CDFI programs, ensuring mission-driven lenders have the capital and technical support to serve their communities. 

“Hill Day provides a powerful opportunity to spotlight the critical role CDFIs play in advancing economic opportunities and wealth-building for thousands of communities across our nation,” said Lenwood V. Long, Sr., CEO of The Alliance. “We will directly engage with policymakers and address why CDFIs need the funding, resources, and support to continue serving underserved communities. To close the racial wealth gap, we must invest in the institutions doing the work.” 

The Alliance’s participation in Hill Day underscores its commitment to ensuring capital and resources flow toward historically marginalized communities. More than a network, The Alliance represents a movement of CDFI leaders who are not only filling gaps created by systemic disparities, but creating new systems for opportunity, ownership, and generational wealth.  

To learn more about The Alliance and its programs, visit https://aaacdfi.org/ 

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About The African American Alliance of CDFI CEOs   

The African American Alliance of CDFI CEOs (The Alliance) is a coalition of more than 80 CEOs of Black-led Community Development Financial Institutions (CDFIs), 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 http://www.aaacdfi.org. 

Pamela Stewart is a trailblazer in community development finance who is transforming the economic landscape for Black entrepreneurs. As President of the Black Business Investment Corporation (BBIC), Pamela brings a wealth of experience, a mission-driven mindset, and a commitment to breaking down systemic barriers for underserved communities. Her leadership is not only helping Black-owned businesses thrive but also empowering the next generation of women leaders to drive meaningful change. 

BBIC has been a pillar of support for Black-owned businesses in Palm Beach County and the Treasure Coast for over 36 years. Originally established to help Black businesses become creditworthy borrowers through a loan guarantee program, BBIC has evolved into a Community Development Financial Institution (CDFI) providing direct loans, management assistance, and entrepreneurial training. The organization has offered loan guarantees ranging from 10% to 90%, serving as a crucial credit mitigation tool to improve access to capital for Black-owned businesses. With a steadfast commitment to fostering sustainable economic growth, BBIC creates pathways for Black entrepreneurs to access the capital and resources they need to scale and succeed. 

Prior to joining BBIC in 2021, Pamela’s leadership philosophy was shaped by a defining moment in her career when she had to sunset an emerging CDFI after a decade of operations due to insufficient operational support. “I realized then that no matter how great our loan products were, if we didn’t understand how to scale and grow the operation, success would be out of reach,” she reflects. This experience shaped her into the transformational leader she is today—one who fosters an open, transparent, and mission-driven culture where her team is empowered to make an impact—after stepping into the role of President in April 2023. 

Women-led CDFIs often face similar challenges as women entrepreneurs with accessing the same level of capital and resources as their male-led counterparts. Pamela tackles these challenges by enhancing BBIC’s profile through strategic partnerships and a relentless pursuit of industry best practices, all while leveraging her membership with the African American Alliance of CDFI CEOs by participating in capacity-building programs like the Women-Led Initiative, Total Community Lending, and CDFI Certification Readiness Accelerator to further strengthen BBIC’s mission. 

Under her leadership, 50% of loans disbursed and 78% of development services are provided to women-owned businesses. In 2024, BBIC launched the Phoenix Co-Lab, a dynamic initiative specifically designed to support women business owners. This program fosters networking, provides educational resources and mentorship, encourages collaboration, and promotes holistic well-being to empower women to thrive in their businesses. “The Phoenix Co-Lab is a space where women can rise, just like a phoenix, and achieve their highest potential,” Pamela says. 

Pamela Stewart standing with Phoenix Co-Lab participants 

Michelle Obama, out of many women, stands out as a guiding influence for Pamela. She often returns to one of Michelle’s quotes as a source of motivation: “The only limit to the height of your achievements is the reach of your dreams and your willingness to work hard for them.” 

Pamela hopes to leave a lasting legacy of opportunity for women in the CDFI space. She offers guidance to the next generation of women leaders, drawing inspiration from the words of The Alliance’s leadership: “Remain steadfast and focus on empowerment, resilience, and impact.” 

For Pamela, Women’s History Month serves as an opportunity to honor the contributions and achievements of women throughout history, particularly Black women whose stories often go untold. Through her work at BBIC and her unwavering dedication to economic justice, Pamela Stewart is ensuring that Black women entrepreneurs not only have a seat at the table but are also equipped to lead and transform their communities.