To transform the economy, we must fundamentally change how capital flows. At its core, this requires shifting money and shifting power to businesses and ecosystems that have, and continue to be, financially under-resourced. It also requires these same businesses and individuals to design and direct how capital is allocated within their communities – from the type of capital, to the evaluation criteria and terms.
To challenge the status quo, three prominent entrepreneurship support organizations led and primarily focused on supporting entrepreneurs of color – MORTAR, Native Women Lead and Social Impact Strategies Group – partnered with Common Future and Community Credit Lab to launch an $800,000 character-based lending pilot fund. The fund focuses on allocating capital based on relationship and trust to support entrepreneurs with affordable and flexible capital to help grow their businesses. Join us to hear directly from the architects of this fund and learn about not only the challenges, but also the benefits and successes of coming together and executing on this model.