![]() ![]() Entrepreneurs of color regularly report being turned away by traditional financial institutions for loans at higher rates than their white counterparts. Unfortunately, for too long, the small business ecosystem in underserved communities has struggled to keep up with better funded businesses and entrepreneurs in more prosperous communities. Community lenders-including Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and others-are vital to unlocking the full economic potential of these communities, turning previously sidelined talent into a source of economic growth and shared prosperity for all. ![]() Small businesses are the engines of our economy and the path to economic prosperity for countless Americans in underserved communities. ![]() Today, Vice President Harris will announce a slate of new actions taken by the Biden-Harris Administration and private sector stakeholders to deliver capital and resources to underserved small businesses and the community lenders who serve them.
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