Recap: The Call for Capital: How Mission-Driven Financing Supports Our Small Businesses

FULL RECAP COMING SOON

On Tuesday, March 3, the Boston Foundation hostED a live discussion focused on the vital role of Community Development Financial Institutions, better known as CDFIs, and other mission-driven financial organizations play in reducing the estimated $600 million ‘capital gap’ facing small business owned by people of color in Massachusetts.

The forum spotlighted the value of mission-driven capital providers and their role in helping close capital gaps, as a panel of local leaders in this field discuss their community-based financing models and the Commonwealth’s statewide mission-driven financing ecosystem.

The event also featured the presentation and release of new research, from Matt Brewster of P2 Advisors, that examines the current and potential impacts on Massachusetts CDFIs and small businesses of the federal government’s effort to eliminate the CDFI Fund, which provides millions of dollars in support to Massachusetts CDFIs. That presentation was followed by a discussion on how CDFIs, state government and philanthropy can help sustain and strengthen mission-driven lending as a pillar of economic development, especially in this political climate.