According to Shelterforce, America’s financial system is not just stacked against Black and Brown consumers, but Black- and Brown-led firms.
“In the wake of national protests against anti-Black racism and police brutality in 2020, many CDFIs reevaluated how closely their operations and investments align with racial equity objectives. The economic fallout from the pandemic, which has disproportionately hurt minority-owned businesses and once again highlighted the lack of affordable housing in many cities, heightened the urgency to make capital more accessible to BIPOC developers.”Shelterforce, 2/22/22
That’s why CDFIs like Leviticus are working to create pathways for developers of color to access pre-development and project financing.
This article, featuring Leviticus and its Empowering Diverse Real Estate Entrepreneurs (EDREE) initiative, explores how growing support for Black and Brown developers could help close America’s racial wealth gap.
The Leviticus Fund is a regional nonprofit loan fund with over 38 years of experience. We owe our success to the strong and service-oriented relationships we form with our borrowers.
We offer a number of loan products in addition to EDREE, with flexible terms and fixed, low interest rates. We underwrite efficiently so our partners can receive the time-sensitive capital they need.
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