Fifth Third Community Development Corp. is investing an additional $2.5 million in First Independence Bank. The move makes Fifth Third the largest investor in the minority depository institution and community development financial institution.
Union Bank of Nigeria (Union Bank) has joined Business Call to Action (BCtA) with a pledge to provide access to financial services for at least 30,000 people from low income communities in 11 states across northern Nigeria by 2020, where currently more than half the population are unbanked.
Technology can be a double-edged sword – especially when it comes to small business lending. While there’s plenty of justified excitement over the potential of providing underserved SMEs with fast access to loans through digital platforms, there are also considerable reasons for caution. Though alternative lending products can boost access, many lack transparency regarding the true cost of the loan, and therefore risk trapping small businesses in a cycle of debt.
Citi Community Development, the City of New York, and National Disability Institute (NDI) announced the launch of Empowered Cities (www.empoweredcities.com), a new national initiative enabling municipalities to expand financial empowerment and economic inclusion for people living with disabilities and their families.
A new discussion paper by GRI seeks to provide practical assistance to organizations to contribute to SDG 1, poverty alleviation. This infographic shows 4 main areas where businesses can help through their activities and partnerships.
Small businesses play a critical role in the global economy, contributing to economic opportunity, diversity and the overall health of our communities. If current trends continue, however, we may soon wake up in a world where many of these businesses have closed and only a few of the very largest players remain open.
Small businesses are already the biggest generator of jobs in America. They make up almost half of private sector employment. Those of us in tech and in the public sector need to take the next step to rev that engine more.
It started with a realisation. A mortgage is the biggest transaction of any person’s life, and no one was helping buyers to shop around. It’s madness. So we set about building a platform that empowers the user – and gets them the best possible deal.
Acumen, the nonprofit global venture fund, today announced its first financial inclusion investment under its Acumen America portfolio. Launched in 2016, Acumen America invests in social enterprises addressing the problems of poverty in the United States with a focus on the sectors of health care, workforce development and financial inclusion.
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