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Homeowners and small landlords are under mounting pressure, as lost income related to COVID-19 leaves them with month after month of unpaid debt and limited ability to catch up. The loss of wealth could impact the next generation and beyond, especially in communities of color, warns LISC’s Denise Scott. “Just as COVID-19 is having a disproportionate impact on the health of Black and Brown families, so too is it exacerbating our racial wealth gap, which already saps so much from our national potential.”
George Ashton III, who oversees LISC's Strategic Investments department, joined a recent episode of the podcast Money + Meaning to discuss LISC's Black Economic Development Fund. The conversation delved into the growth of CDFIs and their role in economic development and how more corporations can direct their capital towards systems change that promotes racial equity.
By adopting a set of universal benchmarks established by the United Nations—the UN Sustainable Development Goals or SDGs—Community Development Financial Institutions can streamline the way they measure and demonstrate the investments they've been making for decades to help create equity and wellbeing for people and places in the United States. A blog by LISC's Anna Smukowski and the OFN's Andrea Longton explains how and why.