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5 Black-Owned Businesses Get $2.6M in Loans from Foundation in Ohio

Five Black-owned and Black-led businesses received below-market loans as part of a new initiative to close the racial wealth gap in central Ohio. ....

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Next Street Spearheads Historic Economic Opportunity Coalition To Align Historic Investment In Communities Of Color Across The United States

Today, an event will be held at Restoration Plaza in New York to announce the launch of the EOC, its members and its four workstream areas. ....

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Next Street Spearheads Historic Economic Opportunity Coalition to Align Historic Investment in Communities of Color Across the United States

NEW YORK CITY (PRWEB) July 29, 2022 Next Street, a mission-driven solutions firm helping every small business reach its potential, today announced the ....

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St. Louis Entrepreneurs Face A $13 Billion Funding Gap. This Group Wants To Change That

A new report out this month assessing the region’s small business landscape found a major gap in the amount of funding needed versus what entrepreneurs can secure, with business owners of color hit hardest. ....

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Big Banks Are Committing $10 Billion to Tackling Racial Inequity. Here's How to Get a Piece

Photo: Getty Images/Illustration: Chloe Krammel
Almost a year after the death of George Floyd, major banks and asset managers are committing billions towards addressing the effects of racial disparities in financial services.
On Tuesday, eighteen financial institutions including BlackRock, Morgan Stanley, Goldman Sachs Group, Bank of America, and Citigroup agreed to set aside $10 billion for businesses owned by people of color over the next five years. The money is meant to benefit underrepresented founders through increased contracting, funding, and capability-building, with the goal of driving $30 billion in economic impact.
The institutions, which control $27 trillion in assets and employ 750,000 people globally, are members of the Corporate Call to Action: Coalition for Equity & Opportunity (CCA), also referred to as the CEO Coalition. It s a corporate social justice initiative launched in September 2020 by the Connecticut Office of the Treasurer ....

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