Minority-Owned banks play a vital role in the U.S. economy. Many serve as a funding source for underserved and neglected communities of color. Unlike taking out a loan from a multi-national bank, when you take out a loan from a minority-owned bank, it’s a contribution to the economic development of the community. Minority-Owned banks provide small business loans, commercial real estate loans, mortgage loans, auto financing, personal loans and student-loan financing, while recycling money back into the community. In short, without this community investment, many minority communities would continue to be neglected, forcing their residents to move or suffer economic stagnation.
To keep minority banks in the business of reducing the wealth gap and community building, your financial support is needed. Your donation goes directly to the promotion of banks that provide loans that invest in minority communities. Our organization promotes the interests of minority-owned banks through a variety of marketing efforts, including financial education, hosting special events, and promoting the importance of consumers acquiring loans with minority-owned banks. This awareness results in the public’s understanding of the crucial role minority lending plays in community building. Use us to locate your list of black banks. READ MORE
Lost African American Wealth *Estimated labor that was extracted from enslaved Africans from 1619 to 1865Source: https://blacktaxed.com/
Excluded From The Social Security Act In 1935 *Black Americans were also excluded from the Social Security Act in 1935 — agricultural and domestic workers were deliberately out of the act.Source: https://blacktaxed.com/
Extra Interest Paid *The amount in interest payments that Black and Latino borrowers pay every year more than white borrowers with comparable credit every year.Source: faculty.haas.berkeley.edu
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