Earlier this month, PeopleFund announced the creation of a new accelerator program supporting Black, Indigenous, and People of Color in Austin and Dallas. Below is a press release from PeopleFund: PeopleFund proudly announces launching our Black, Indigenous, and People of Color (BIPOC) Small Business Accelerator. October 7, 2021 Our new signature initiative strategically aims to […]
Category: Blogroll
White House Budget Released
The White House proposed $330 million for the CDFI Fund, a $60 million increase from the FY 2021 level of $270 million.
New CDFI Coalition Member: ICA
ICA’s Accelerator program is a great example of how CDFIs offer more than financial resources – they provide programmatic assistance through business incubators, technical assistance programs, training, mentorship, and education tailored to the unique needs of the markets they serve.
Small Business Week
This small business week, we’re highlighting some stories of CDFIs supporting small businesses.
Vice President Harris visits CDFI-financed business in Oakland
Earlier this week, Vice President Kamala Harris traveled to Oakland to visit an infrastructure project and tour Red Door Catering, a business financed by Opportunity Fund’s CDFI.
Working with CDFIs to Close the Opportunity Gap and Make Capital More Accessible
CNote profiles partner CDFIs and their successful borrowers like Linda Newman (pictured) owner of Points Unknown, an off-the-grid homestead and sled dog-based adventure company in northern Minnesota. She got a loan from The Entrepreneur Fund, a CNote partner CDFI. Blog post by CDFI Coalition Member Stacy Zielinski of CNote As a former loan officer for […]
Combating the Fragility of Hope
Guest blog post authored by John Holdsclaw IV, Chair of the CDFI Coalition. Across the country today, we observe the national holiday celebrating the life of Dr. Martin Luther King Jr. The King Center’s (located in Atlanta) theme and call to action for this year’s observance is “The Urgency of Creating the Beloved Community!” While […]
CDFIs Among PPP Lenders that Get First Call in PPP Re-Opening; SBA Issue New Guidance
As reported yesterday, the SBA will reopen the Paycheck Protection Program (PPP) next week. As a part of a call they held with trade leaders this morning, SBA and Treasury staff indicated that Community Financial Institutions (CFIs), which includes CDFIs, will be provided a brief head start for submitting loan applications, including First Draw PPP […]
CDFI Fund Looks to Implementation of COVID Response Programming
The Fiscal Year (FY) 2021Consolidated Appropriation Act included $900 billion for assistance to people and communities coping with the economic and social consequences of the pandemic. As we reported earlier, $12 billion was made available to the Treasury Department and the CDFI Fund, including $9 billion for capital investments to Minority Depository Institutions (MDIs), and $3 […]
Congressional Action Needed to Assist Small Business
The Stanford Institute for Economic Policy and Research found, in the midst of the COVID-19 crisis: “African-American businesses were hit especially hard experiencing a 41 percent drop. Latinx business owners fell by 32 percent, and Asian business owners dropped by 26 percent. Simulations indicate that industry compositions partly placed these groups at a higher risk […]