Credit and capital are the life blood of small businesses and often dictate whether a business can get off the ground, expand, and thrive. However, capital continues to be a significant problem for small businesses, especially those that are owned by women and people of color. Most firms of color do not receive all the funding they needed, even after completing multiple financing applications. Minority-owned businesses are considered riskier than their white counterparts, and historic racism from financial institutions towards communities of color has led to a lack of trust. While community organizations have helped provide financial services for over a century, community development financial institutions (CDFI) were specifically created 48 years ago to make financial services more accessible and affordable for underserved communities.
In this webinar, you’ll learn:
- about the different types of Community Development Financial Institutions
- how CDFIs can be a source of capital for diverse opportunity seekers
- how you can establish a working relationship with CDFIs to aid in your DE&I strategy
This webinar is brought to you by the International Franchise Association Foundation and is designed to help franchisors learn about how to leverage existing resources to expand their diverse recruitment and talent pipeline. This is part 1 in a series of 4 Diversity Matters webinars to be held in 2022.