Alfredo Zendejas co-owns Accesorios Zendejas along with his wife, Leticia Sanchez, in Los Angeles, California. A true mom-and-pop enterprise, Alfredo and Leticia work together to design, create and deliver custom decorative pieces for quinceñeras, baptisms, weddings and other special occasions.
Los prestamistas CDFIs– a los que a veces se les llama instituciones financieras para el desarrollo comunitario – están ubicados en todas partes de los Estados Unidos.
Mission-driven lenders – sometimes called community development financial institutions or CDFIs – are located throughout the US.
Since 1977, the Community Reinvestment Act has required U.S. banks to meet the credit needs of people living in the areas where they do business — particularly those with low and moderate incomes. Banks are graded on how well they meet that mandate, and their track records matter when it comes to getting federal approval of changes such as a merger with another institution, or the opening of another branch.
Pride is always a busy day for Brenda Buenviaje — but then, so is every Sunday at the chef’s two Southern-inspired restaurants.
Buenviaje is one of several lesbian, gay, bisexual and transgender business owners who got their start thanks to the Opportunity Fund, a nonprofit microloan program that aims to help underserved small-business owners. Those with backgrounds underrepresented among entrepreneurs can get financing from the fund that banks and other lenders might deny them.
Excelsior Growth Fund (EGF), a non-profit Community Development Financial Institution (CDFI) dedicated to helping New York businesses grow by providing loans and advisory services, has launched an online Business Resource Library to provide local entrepreneurs with a trusted resource for information on a variety of business and financial management topics.
The Black bank has played an important role in funding Black entrepreneurs, businesses and institutions, sustaining the Black community and helping individuals when other banks turned a blind eye. This Juneteenth–the commemoration of the end of slavery and the beginning of freedom and independence for African-Americans–provides an opportune time to examine the role of that Black financial institutions have played and continue to play, the ways in which integration impacted the economic ecosystem, and the challenges and opportunities facing Black banks.