Capital Formation and Inclusive Economic Growth for MBEs

June 27, 2023

The African American Alliance of CDFI CEOs (the Alliance) is pleased to submit this written statement for the record, addressing the current state of issues, problems, and proposed solutions relating to capital formation and inclusive economic growth by minority business enterprises (MBEs). The Alliance is a national membership-based organization with a mission to empower Black communities by promoting economic stability, well-being, and wealth. Leveraging a network of 77 Black-led Community Development Financial Institutions (CDFIs), the Alliance is working towards establishing power and promoting equal economic opportunity for Black individuals, families, and communities across all 50 states.