New boost for minority businesses in underserved communities
February 9, 2021 8:40AM AKST
By REBECCA SANTANA Associated Press
NEW ORLEANS (AP) — Small minority-owned businesses have often struggled to gain access to capital and other tools to grow. That challenge hasn’t been made any easier during the coronavirus pandemic. But a new effort announced Tuesday aims to address disparities in areas of the country that have long struggled with poverty. Hope Enterprise Corporation runs a Mississippi-based credit union that specializes in lending and other financial services in underserved communities around the Deep South. It’s partnering with seven cities and nine historically Black colleges and universities to launch the “Deep South Economic Mobility Collaborative,” along with Goldman Sachs 10,000 Small Businesses initiative.