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This lender wants to close the racial wealth gap and 'put poverty out of business'

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This lender wants to close the racial wealth gap and 'put poverty out of business' investinyou (In partnership with acorns.)

He calls CDFIs the "best kept secret of the financial services world."

Immigration status also isn't an issue, either. About 40% of Capital Good Fund's clients are Latino and 25% are African-American. The poverty threshold is $13,300 in income for a single person under age 65 and $25,926 for a family of two adults and two children, according to theNobody wants to loan me money. I'm high risk. I don't have a really big credit history.In order to address racism, the financial system has to provide better access to affordable services to Black, Hispanics and other people of color in order, Posner believes. He's also a proponent of overhauling the criminal justice system.

Then in 2013, Martinez turned to Capital Good Fund to get an emergency loan of $300 to fix a broken windshield. The nonprofit also has a free hotline for those significantly impacted by Covid-19 and also offers year-long, one-on-one financial coaching for $15 a month.Photo: Cat Laine

 

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acorns Lol I'm sure they do 😅🤣

acorns How do you do that.? Give TAX MONEY to DRUG DEALERS, HOOKERS,AND GANG MEMBERS.They don't see no WEALTH GAP.They just see VICTIMS

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I've lived the racial wealth gap all my life as a Black attorney - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Offered to your white peers..lol. I have a white friend that went to the NBA and he felt the same way! Imagine your life as a farmer. Poverty wages. Highest suicide rate of any occupation. Utter dominance of your industry by monopolies from seeds to equipment to finance to markets. $50k in retirement savings is a fortune most Americans would have a hard time imagining Yawn... tired of these fake stories of underperforming people blaming their lack of success on race. Cool story bro.
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