Kiva is thrilled to bring our crowdfunded, 0% interest loans to meet the needs of Baltimore’s most underserved entrepreneurs. In the U.S., where minority-owned, women-owned, and startup businesses face numerous barriers to financing, we’re proud to extend opportunity by lending to entrepreneurs based on character, not credit score,” Kiva co-founder and President Premal Shah said in a statement.
The MSR, one of six Black-owned businesses based in Minneapolis and St. Paul featured this season. will kick off the season. “I’m excited about seeing it and sharing the experience of running a historical newspaper with the viewers,” said Tracey Williams-Dillard, MSR publisher and CEO. “I hope viewers learn to appreciate the Black press and the blood, sweat, and tears that go into putting out timely and engaging news that our readers can use.”
Photo Courtesy of RJI
CDFIs aren’t the only institutions that would benefit from investments in community media. Banks and other lenders, under the Community Reinvestment Act of 1977 (CRA), are required to meet the credit needs of the communities where they do business, including low- and moderate-income communities. The Act was a response to redlining — the discriminatory practice of denying loans to residents and business owners based on their race or ethnicity. Every two to five years, banks have to undergo an audit by federal banking regulators to see how well they are meeting the terms of the CRA. Banks that do not meet the requirements face heavy regulatory scrutiny and can have difficulty getting approval for mergers or expansions.
Photo Courtesy of RJI
The Local Media Association (LMA) has made sustainability for publishers of color one of its four strategic pillars, building capacity through its Digital Transformation Lab, the Fund for Black Journalism, and the Word In Black collaborative. And Local Independent Online News (LION) Publishers through its Tiny News Collective is making critical support more accessible to first time founders that are underrepresented in the news landscape.
Photo by ITSMF Welcomes Johanna Jones
“I am thrilled to begin my leadership tenure of such an influential and vital organization,” said Johanna R. Jones, newly appointed ITSMF President and CEO. “ITSMF has made tremendous progress toward the development and advancement of Black professionals in technology fields and I’m eager to use my experience and strengths in inventive ways to expand organizational growth and impact.”
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