- MBRT receives grant from the Western Union Foundation enabling CDCs to increase lending in economically distressed Latino Communities
- Partners with WSWW to create database of CDCs serving Latino communities and Latino finance professionals interested in giving back as volunteers
Washington, D.C. – “This initiative will impact Latino communities on a larger scale than a CDC could realize on its own. With our partner, Wall Street Without Walls, the program will help CDCs better leverage their lending activities and assets in order to access the capital markets for additional and less expensive capital”, said Roger A. Campos, President & CEO. “This cheaper capital permits CDCs to have a greater overall impact through expanded microlending and community development.”
“Wall Street Without Walls helps communitybased economic development organizations prepare to access the capital markets for new sources of mission capital by engaging active and retired investment bankers as volunteers whose expertise is their philanthropy. This exciting partnership between Wall Street Without Walls and the Minority Business RoundTable enables us to reach out to both Latino communities in need of financial technical assistance and to Latino investment bankers interested in volunteering their expertise to help create affordable housing, jobs, community facilities, and commercial revitalization. It’s always great to see corporations like Western Union supporting winwin partnerships in community revitalization and encouraging volunteerism”, said John Nelson, CoDirector.
Program Director Marcella Harshbarger said, “This partnership between MBRT and WSWW, with funding from Western Union, promises to fulfill several needs: helping Latino community economic development; recruiting Latino finance professionals to volunteer their expertise; and facilitating finance innovation that enhances Latino community organizations.”
About Wall Street Without Walls
The objective of the national initiative of Wall Street Without Walls (WSWW) is to connect the traditional institutions and financial products of the capital markets with communitybased development organizations (CBDOs) engaged in the diverse work of community economic development in low and moderatewealth communities both urban and rural. Like “Doctors Without Borders,” WSWW is an opportunity for finance professionals to give of their expertise in addressing pressing social concerns by partnering with local economic development organizations that serve disadvantaged small businesses, individuals, and families. For more information call 202-375-7762 in Washington, DC or visit http://www.wallstreetwithoutwalls.com.
About the Minority Business RoundTable
The Minority Business RoundTable is the only national nonprofit organization for CEOs of the nation’s leading AfricanAmerican, AsianAmerican, HispanicAmerican, NativeAmerican and other minorityowned businesses. Its members analyze and help formulate effective public policies that impact minorityowned business. Our corporate members work to create sustainable communities and national economic viability through successful partnerships.
The Minority Business RoundTable is proud to have the Allegis Group and Aerotek, Inc., one of the nation’s leading provider of personnel services, the Business Roundtable, an association of chief executive officers of the country’s leading corporations, the Kauffman Foundation, U.S. Department of Energy, U.S. Small Business Administration, U.S. Department of Homeland Security, U.S. Department of Labor and other federal agencies as strategic partners. For more information on the Minority Business RoundTable, please visit http://www.mbrt.net.
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