New Jersey Community Capital’s Post

 As we close out Small Business Month, Donna Gambrell, CEO of Appalachian Community Capital, is featured this week in a Forbes article by Lenwood V Long Sr, discussing the critical role Community Development Financial Institutions (CDFIs) play in supporting Black-owned businesses. "Small businesses and entrepreneurs become the anchors of so many communities," says Gambrell. With a high-touch approach, CDFIs like Appalachian Community Capital are essential in providing the financial services and support that historically underbanked communities need to thrive. Read more about the impact of CDFIs and the importance of closing the racial wealth gap in the full article below: #SmallBusinessMonth #BlackOwnedBusiness #EconomicGrowth #CDFI #AppalachianCommunityCapital https://lnkd.in/eY5ZndZF

Attracting deposits is difficult, and can be especially so for some CDFIs and MDIs. Two trade associations representing CDFIs and MDIs, the Community Development Bankers Association and the National Bankers Association, launched the Advancing Communities Together Deposit Program this month with $35 million in seed-money deposits from four financial firms. Get the details>> https://ow.ly/XiVS50SnciB #ACTDepositProgram

The Advancing Communities Together (ACT) Program is a great way for corporations and other large depositors to leverage one deposit relationship to support multiple communities all while ensuring full FDIC insurance though IntraFi. #CityFirstBank #CDBA #NBA #IntraFi #ACTDepositProgram

My kids: Dad, what do you do? Me: I work for a CDFI. My kids: Huh? CDFI, what? Today is a good day to tell them the story of the CDFI industry. On September 23rd, 1994, President Clinton signed into law bipartisan legislation that created the CDFI Fund, an industry that I love, cherish and call home. The CDFI Fund is foundational to community development finance. Over the past 30 years, CDFIs have invested billions into underserved businesses and communities across the country. In the process, they created and retained millions of American jobs. Grow America (formerly NDC), there from the start, continues to demonstrate meaningful and measurable impact within the industry. Me: Kids, I help people, we do good work and I’m proud to live up to the Grow America name, where daily, we grow community, businesses and the people who lead and work in them.

Looking to find out more about just what Capital for Change, and other CDFIs do? #impactinvesting #socialimpactinvesting

Over the last ten years, #entrepreneursofcolor have had the greatest growth in business ownership, accounting for more than 50 percent of the two million newly created firms. Community Development Financial Institutions (CDFIs) play a vital role in strategically leveraging opportunities for wealth creation for entrepreneurs of color. Want to learn more about CDFIs? Join AFN on July 31st at 1pm ET for a webinar/brief which will highlight successful and innovative strategies to position #CDFIs as #wealth-building mechanisms including recommendations on how #philanthropy may invest to narrow the racial and ethnic #wealthgap through investments to expand small business. REGISTER HERE: https://loom.ly/JRCSzcg CITI Prudential The Rockefeller Foundation Truist

Over the last ten years, #entrepreneursofcolor have had the greatest growth in business ownership, accounting for more than 50 percent of the two million newly created firms. Community Development Financial Institutions (CDFIs) play a vital role in strategically leveraging opportunities for wealth creation for entrepreneurs of color. Want to learn more about CDFIs? Join AFN on July 31st at 1pm ET for a webinar/brief which will highlight successful and innovative strategies to position #CDFIs as #wealth-building mechanisms including recommendations on how #philanthropy may invest to narrow the racial and ethnic #wealthgap through investments to expand small business. REGISTER HERE: https://loom.ly/JRCSzcg CITI Prudential The Rockefeller Foundation Truist

On this episode of the Bankcast, we talk with Phil Eide and Jena Reed from our member Hope Credit Union about how the credit union successfully reaches underserved communities with FHLB Dallas community investment programs. https://ow.ly/z3Y350TzygO #BridgingtheGap #InternationalPodcastDay

When trying to assess where resources are needed in North Texas, community organizations often look at a variety of data sets and have their own language around the social barriers to well-being in Dallas-Fort Worth. It can make collaboration between nonprofits, the public sector, and businesses tricky. A new data-building initiative by United Way Metropolitan Dallas and Parkland Center for Clinical Innovation allows partnering groups to visualize community vulnerability by block groups across 26 clinical and socio-economic indicators with the goal of leveraging that data to drive more impact in advancing racial equity across Dallas, Rockwall, Collin and southern Denton counties. By Arcelia Martin #nonprofits #unitedway #parklandcenter #racialequity #equity

NEXT WEEK: Join our 10/23 informational webinar to learn about kickstarting your City or County's municipal financial empowerment journey, with a racial wealth equity lens. The #CityStart initiative helps local governments develop a municipal financial empowerment blueprint based on stakeholder and community engagement. In this equity-focused program, the CFE Fund is partnering with Black-majority city and county partners, as well as cities and counties with significant Black populations, to address residents’ financial empowerment needs, prioritizing wealth-building opportunities for Black residents. Bloomberg Philanthropies' Greenwood Initiative, whose mission is to accelerate the pace of Black wealth accumulation in the U.S., will continue to work with us and municipal partners on the design and execution of the CityStart program using a racial wealth equity lens. Grantees will receive funding of $75,000 and significant technical assistance to develop and launch a blueprint. To learn more, join our informational webinar on October 23: https://lnkd.in/e7F_dygm