Banks Can Leverage their Existing Infrastructure to Boost Equity
Developing new products with CDFIs and other nontraditional financial institutions will limit risk to banks and open doors to new customer bases in a responsible way.
Diversity is Not a Cost Center
Since George Floyd’s death, many banks have leapt forward with billions in pledges to communities of color. Those actions should be praised, but lenders must look beyond addressing racial diversity and economic inequality with charity if they want to thrive in a changing America.
With New CD, Berkshire Bank Looks to Help Minority Entrepreneurs
When Berkshire Bank’s Malia Lazu talks about entrepreneurship, she evokes a kitchen table, the place where family members and friends first talk about investing in the business. For entrepreneurs of color, the wealth gap between whites and people of color in America means these conversations, and the business itself, often never happen.
Berkshire Launches New Loan Product for Entrepreneurs of Color
Billed as an attempt to close the racial wealth gap, Berkshire Bank plans to offer entrepreneurs of color seed capital through a new product created in partnership with The Runway Project, which will provide business coaching to borrowers
