If you’re a woman and you’re Black, good luck getting access to funding. A 2016 Federal Reserve System survey found that Black women are more likely than non-minority entrepreneurs not only to face challenges finding financing, but also to fail to get some or all of the money they wanted.
With that in mind, several groups just joined forces to help Black women entrepreneurs in Mississippi get access to capital and small-business guidance. Impact investor RSF Social Finance recently issued a $100,000 loan guaranty to community development financial institution Communities Unlimited (CU), to help the Fayetteville, Ark., CDFI make more loans to entrepreneurs in Mississippi through a partnership with Higher Purpose Co. (HPC), a Clarksdale, Miss., nonprofit.
Recent Comments