Financial leaders and entrepreneurs are reshaping programs to help build a more equitable impact ecosystem and economy. Low-cost loans and other financial tools can help financial organizations connect with entrepreneurs from underrepresented communities who are growing businesses that create positive social and environmental impact.
Members of the Philadelphia region’s impact ecosystem shared tips and inspiration for financial innovation during a session at Champions Retreat 2022, a gathering of people in the Certified B Corporation community. The session, Startup and Growth Funding for Impact Businesses, featured Philadelphia area entrepreneurs and financial leaders pursuing more equitable access to capital. With more than 1.5 million residents, Philadelphia has a diverse population — about 40% Black, 40% white, 7% Asian, and 7.5% who identify as “other.” But income disparities remain, with poverty levels higher among non-white residents.