49 min
How Small and Minority Owned Businesses Can Access New Capital through CDFIs and MDIs The Financial Law Forum
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- Business
Episode 5 - Advancing Financial Equality: How Small and Minority Owned Businesses Can Access New Capital through CDFIs and MDIs
Over the last few months, the COVID-19 crisis has disproportionately affected small and minority-owned businesses across the country, many of which found the Payment Protection Program inaccessible. In response, Congress has appropriated $9 billion dollars in funding through the Emergency Capital Investment Program (ECIP) for distribution through the national network of community development and minority-owned financial institutions known as CDFIs and MDIs. With this record-breaking amount of financing earmarked for small and minority owned businesses through CDFIs and MDIs, we are joined in part two of this series by our Seyfarth partner, Andrew Sherman, to discuss the type of capital available to small and minority owned businesses, the lending process and eligibility requirements and the importance of cultivating a relationship with your local CDFI or MDI. Sharing with us his extensive experience in giving legal and strategic advice on various aspects of business growth, capital formation, and leveraging technology, Andrew also offers some practical tips to small businesses looking to grow and expand by gaining access to this flood of new capital.
Episode 5 - Advancing Financial Equality: How Small and Minority Owned Businesses Can Access New Capital through CDFIs and MDIs
Over the last few months, the COVID-19 crisis has disproportionately affected small and minority-owned businesses across the country, many of which found the Payment Protection Program inaccessible. In response, Congress has appropriated $9 billion dollars in funding through the Emergency Capital Investment Program (ECIP) for distribution through the national network of community development and minority-owned financial institutions known as CDFIs and MDIs. With this record-breaking amount of financing earmarked for small and minority owned businesses through CDFIs and MDIs, we are joined in part two of this series by our Seyfarth partner, Andrew Sherman, to discuss the type of capital available to small and minority owned businesses, the lending process and eligibility requirements and the importance of cultivating a relationship with your local CDFI or MDI. Sharing with us his extensive experience in giving legal and strategic advice on various aspects of business growth, capital formation, and leveraging technology, Andrew also offers some practical tips to small businesses looking to grow and expand by gaining access to this flood of new capital.
49 min