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Coalition of African American CDFI CEOs Announces Pioneering Strategic Alliance

August 27, 2018 / Chris Bushnell / CDFI, Company News, Press Releases

RALEIGH – A pioneering strategic alliance is uniting the Presidents and CEOs of African American-led community development financial institutions (CDFIs) across the country to build strong communities through economic growth, vibrancy and stability.

The leaders of these national, regional and statewide organizations agreed to a framework to achieve their common purpose at a recent summit in Chicago.

The first-of-its-kind initiative is being spearheaded by Lenwood V. Long, President/CEO of Carolina Small Business Development Fund, Donna Gambrell, President/CEO of Appalachian Community Capital and Inez Long, President/CEO of the Black Business Investment Fund based in Florida.

Over the past quarter century, CDFIs – including African American-led CDFIs – have provided traditionally underserved communities with access to capital credit, and financial services for small business owners, homeowners and consumers.

These leaders have come together to support one another and to increase investments in communities they serve. In addition to increasing lending opportunities, the group is focused on engaging in advocacy, establishing learning exchanges, and facilitating networking among members.

“Maximum collaborative impact is our shared mission,” Lenwood Long explained. “The Alliance will work passionately to ensure not only that each organization can grow stronger to fulfill its mission but that the communities served will be strengthened as well.”

The CDFIs committing to the strategic alliance are:

• African Development Center
• Ampac Tri-State CDC
• Appalachian Community Capital
• Black Chamber of Commerce, Beaufort, SC
• Black Business Investment Fund Florida
• BSD Capital, LLC DBA Lendistry
• Capital Impact Partners
• Carolina Small Business Development Fund
• Chicago Community Loan Fund
• Community Works Inc.
• The Enterprise Center Capital Corporation
• Enterprise Community Loan Fund, Inc.
• First State Community Loan Fund
• Greensboro Community Development Fund
• The Housing Fund
• Housing Options & Planning Enterprises, Inc.
• Los Angeles LDC, Inc. / Main Street BIDCO Capital, Inc.
• North Carolina Community Development Initiative
• Opa Locka CDC
• Pacific Coast Regional Small Business Development Corporation
• People Trust
• South Carolina Community Loan Fund
• Texas Mezzanine Fund
• TruFund Financial Services
• Washington Area Community Investment Fund

Carolina Small Business Development Fund fosters economic development in underserved
communities through access to capital, business services and policy research. Since 2010,
the non-profit has invested more than $50.7 million through 661 loans to small businesses
across North Carolina helping to create or retain more than 2,267 jobs.