Strengthening minority-owned business with lending technology

More than half of African American and Latin owned businesses will need financial assistance to survive the economic effects of the pandemic, according to a study conducted by the Global Strategy Group for Color of Change and UNIDOSUS. Unfortunately, government programs designed to provide relief were ineffective for many business owners of color.

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Secondary Default Finastra Form

Recognizing that minority-owned businesses are an important part of the economy, fueling job growth for 7.2 million Americans, Community Development Financial Institutions (CDFI) have committed to supporting disadvantaged firms even in difficult times. Fast and fair access to funding is critical, so financial institutions need to rise to the challenge, using technology to level the playing field for lending services.

Join Finastra and NAMMBA as we discuss:

  • The current state minority-owned businesses
  • How financial institutions can support them
  • Technology as the connector to level the playing field
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Mike Salfity
SVP/GM, North America Community Markets and Banking as a Service

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