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In 2022, we launched a Special Purpose Credit Program to extend credit to small business owners who might not otherwise be approved. By the end of the year, we hired more than 40 local Senior Business Consultants who provide one-on-one coaching and host educational events, community workshops and business training seminars to support entrepreneurs across 21 U.S. cities
Supporting Entrepreneurs in Underserved Areas
From 1:1 coaching, to technical assistance and capital, our new investments are geared towards growing and supporting small businesses.
Investing in Minority Depository Institutions
We appreciate the unique role that Minority Depository Institutions (MDIs) play in our communities. Over the last two years, we have invested more than $100 million of equity in diverse-owned and -led MDIs and Community Development Financial Institutions.
Increasing Supplier Diversity
We believe that diversifying our ecosystem of suppliers is good for our stakeholders –including the businesses we work with, the communities in which they live and serve and for our own firm. As part of our commitment, we are dedicated to the development and utilization of qualified Black, Hispanic and Latino businesses.
Advancing Data-driven Policy Reforms
We’re working on solutions like increased resources for the Small Business Administration’s Microloan program, making the SBA’s Community Advantage program permanent and boosting the size of the Department of Treasury’s CDFI fund to provide additional aid to underserved small businesses.
Boosting Supplier Diversity
Building on our existing supplier diversity efforts, we’re committed to spending $750 million with Black, Hispanic and Latino suppliers.