Heard on the Street – here’s what we were reading last week:
Black Business Owners Are Focusing More on Social Change: The Bank of America Summer 2021 Black Business Owner Spotlight included interviews with 300 Black small business owners. They were asked about several matters, including the pandemic’s impact, their goals, priorities, and challenges they face.
How CDFIs are rethinking lending risks to build BIPOC-led businesses and wealth: The portrayal of Black, Brown, Indigenous, and low-income populations as “too risky” for business investments is rooted in racism used to justify underinvestment in these communities. Dismantling this perception of “risk” in finance, including our own industry of community development financial institutions, is long overdue.
Sorry, we’re closed: The inside story of COVID-crushed small businesses and their comeback hopes: Small businesses across the nation are still trying to make sense of it all. The ones who lost everything have hopes of piecing their lives back together. The ones who financially survived are united in their hopes of riding the wave back up.