Kate Rosson was fearful of losing her small business during the pandemic in late summer of 2020, and like thousands of others she had applied for a Mississippi COVID-19 Back
Institutional investors can leverage their cash by investing it in Community Development Institutions that lend to minority and women small businesses and homeowners. These investors get market rate returns and make a social impact.
PayPal Deposits $135 Million in Financial Institutions Serving Black and Underserved Communities as Part of $535 Million Commitment to Advance Racial Equity
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SAN JOSE, Calif., June 2, 2021 /PRNewswire/ PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it will deposit $135 million of its capital into mission-driven financial institutions and management funds that help underserved communities of color to fight barriers to economic equity, including Hope Credit Union, OneUnited Bank, Self-Help Federal Credit Union, CNote s Wisdom Fund and various smaller institutions through a CNote Promise Account. These investments are part of PayPal s $535 million commitment to strengthen Black businesses and underserved communities, and help drive financial health, access and generational wealth creation.
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As dollars for COVID-19 relief efforts spread across the U.S., evidence suggests that the whiter the community, the more money local communities score.