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Open for Business: The Critical Role of Bank and CDFI Partnerships in Reaching Diverse Communities

Just Economy Conference – May 6, 2021

Entrepreneurs of color are driving U.S. small business formation, with a growth rate of ten times faster than that of U.S. small business overall. They generate $1.4 trillion in revenue and employ more than 7 million people helping to fuel the economy. They represent nearly 30% of all U.S. small businesses and are disproportionately represented in the industries hit hardest by the COVID-19 pandemic. This session highlights an innovative approach in bank-CDFI partnership in successfully engaging with and supporting entrepreneurs of color during the pandemic, and ensuring they are sustainable beyond.
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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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