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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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OAKLAND, Calif., April 22, 2021 /PRNewswire/ CNote, a women-led community investment platform with a mission of closing the wealth gap, today celebrates its fifth year in operation. CNote partners with Community Development Financial Institutions (CDFIs) and mission-driven deposit institutions, which are high-impact local lenders dedicated to delivering financial resources to underserved communities. Dollars invested and deposited on the CNote platform are deployed with these frontline lenders to fund women- and BIPOC-owned small businesses, affordable housing development, and further racial justice and economic development across the United States.
Investments on CNote s platform have created or maintained over 4,000 jobs. In the past 12 months, over 40% of newly deployed capital has gone to women-led businesses and over 50% to BIPOC borrowers. CNote catalogs the on-the-ground impact of its community investments with regular quantitative
Mastercard vice chair: We can t let Covid crisis hold back female entrepreneurs
Ann Cairns is Executive Vice Chair of Mastercard and Global Chair of the 30 Per Cent Club
Diane Von Furstenberg (L) and Founder of Bumble Whitney Wolfe Herd (Photo by Bennett Raglin/Getty Images for Fast Company)
In Q3 of 2020, venture funding for female founders hit its lowest quarterly total in three years. Whilst the current Covid-19 pandemic stands as one of the greatest disruptors to our way of life in living memory, when we have disruption and crisis we also have opportunity to do more, and to do better.