Expanding Access to Capital for BIPOC Developers

Plus we take a closer look at banks' racial equity initiatives, which were promised after George Floyd's death. Where are those dollars going, and how big a change do they represent?

WEDNESDAY, FEB. 23 Wendy Daniels is the president and CEO of Beechwood Residential in Baton Rouge. Daniels’ firm received debt and tax credit financing through the LIIF-NAHT Black Development Capital Initiative. Photo courtesy of LIIF Our Series Continues When we talk about systemic factors in the racial wealth gap, one of the central systems in question is the financial system—banking, lending, and investment. This week we look at that system from two different angles.  Next week we'll start to explore a topic at the heart of the intersection of the community development world and the racial wealth gap: homeownership. If you're enjoying our new series, please consider becoming a Shelterforce supporter. CREDIT WHERE CREDIT IS DUE Expanding Access to Capital for BIPOC Developers By Nisha Mistry, Shelterforce The dual financial system affects not only Black and Brown consumers, but Black- and Brown-led firms. In the past two years, CDFIs have focused on shifting access to capital for developers in particular. READ MORE THE POST-PROTEST PLEDGES Banks’ Racial Equity Initiatives By Shelby R. King, Shelterforce It’s been almost two years since the racial justice reckoning galvanized big banks to promise billions to increase racial equity and close the wealth gap. Where are those dollars going, and how big a change do they represent? READ MORE You won't find our work behind a paywall, but we still need your support. For as little as $2 a month, you can help us continue this important work. Contribute Today ‌ ‌ ‌ ‌ Received this email from a friend? Subscribe to our newsletter View This Email As a Webpage

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