Frank Altman and Anisha Murphy spoke with Al McFarlane on his show Conversations with Al MacFarlane to discuss how access to capital is a key ingredient for systematic change and how CRF is working to solve for the access to capital gap.
As pointed out by MacFarlane, minority entrepreneurs face many obstacles when trying to secure a small business loan. As a result, many are unable to access the capital they need to start or grow their business. When asked how CRF is working to solve for this gap, Murphy highlighted our collaborative efforts with community partners.
“Many of the clients we work with have been left out of traditional financing streams, so we like to work in partnership with our community partners to provide access to capital.” Said Murphy “For example, during COVID-19 we partnered with a number of community led organizations to provide Paycheck Protection Program (PPP) loans to their clientele base.”
Altman also described how CRF’s direct lending practices differ from conventional lending sources.
“We are intentional about the lending that we’re doing. We’re taking capital and trying to point that capital to people that normally don’t get it.”
Listen to a recording of the conversation here.
