Amalgamated Bank collaborated to create a loan fund for minority businesses

Published on June 1, 2022

A new impact investment fund is designed to help CDFIs ramp up local lending to minority business owners. The fund will purchase participations in previously originated loans to minority-owned enterprises from designated CDFI partners to free up capital for additional lending to entrepreneurs of color.

 

GABV member, Amalgamated Bank has partnered with Local Initiatives Support Corporation (LISC), JPMorgan Chase & Co., and others to create a $100 million Entrepreneurs of Color Loan Fund to support minority-led businesses. The Loan Fund’s goal is to help break down systemic barriers that have historically limited the growth of minority businesses.

 

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Courtesy of The Local Initiatives Support Corporation

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