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.

How investors can blend finance for CDFIs to advance economic and racial justice

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,

AppHarvest closes $28 million for its high-tech rural farms

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

New York City restaurant fund ties COVID relief to wage increases

The $3 million Restaurant Revitalization Program is offering grants to 100 family-run restaurants that commit to boosting worker wages.

Gig-worker platform Steady secures $15 million to expand pandemic support

Among Steady’s two million members, the pandemic has hit Black members hardest, said Steady CEO Adam Roseman. “We are focused on delivering immediate and measurable economic value to our members during these unbelievably traumatic times.”

Worker-owned Obran Cooperative acquires Appalachian Field Services

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