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PARTNERSHIP SEEKS TO CREATE MORE LENDING OPPORTUNITIES FOR BLACK-OWNED BUSINESSES
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| Ellis Carr, president and CEO of Capital Impact Partners, and Kurt Chilcott, president and CEO of CDC Small Business Finance |
Nationwide -- CDC Small Business Finance, the nation's leading mission-based small business lender, and Capital Impact Partners, a Community Development Financial Institution (CDFI) that champions social and economic justice nationally, are proud to announce a new alliance. With a focus on economic empowerment and equitable wealth creation, the two organizations have the unique ability to deliver a full suite of lending products and programs that support community efforts to create strong, vibrant, and healthy places of opportunity.
Realizing the need for a new approach to implement scalable solutions that address the widening racial wealth gap, CDC Small Business Finance and Capital Impact have been in conversation for more than a year and, last fall, began to work diligently together to create the foundation for this new enterprise effort. Today the need is greater than ever as generations of systemic inequality are magnified by the disproportionate impacts of COVID-19 on Black and Latinx communities, as well as the issues raised through the racial justice groundswell.
