Small business owners are facing catastrophically bad choices these days, with half predicting they will be forced to close as a result of the COVID-19 economic crisis. Meanwhile, nearly 40 million workers have lost jobs and are struggling to get by, as evidenced by miles long lines at food banks and a brewing eviction crisis.
Community development finance institutions have long been “first responders” to small businesses in historically underinvested communities. The COVID-19 pandemic has in stark terms revealed the degree to which those same communities are subject to the impacts of systemic racism and an economy built on poor-quality jobs. This moment in time requires each of us—community lenders,
ImpactAlpha, August 28 – Indoor farming venture AppHarvest is building a 2.8 million-square-foot greenhouse in Morehead, Ky. to bring technology to sustainable agricultural production and jobs to an area with high unemployment and low incomes. Hedge fund manager Jeff Ubben, who backed AppHarvest while at ValueAct Capital Management, re-upped with his new firm, Inclusive Capital
ImpactAlpha, June 15 – Obran is a holding company owned by the workers of two Baltimore-based staffing agencies: CORE Staffing, a temporary job-placement company launched and owned by formerly incarcerated individuals, and Tribe Works, which is focused on digital creative services. Obran’s goal is to “create a very big holding company” that fuels profits back