Six Black banks — including four of the nation’s largest — have joined a new digital platform by Citi. The action could help the banks increase lending to African American entrepreneurs.
According to a news release, the banks are part of a consortium linking with Bridge built by Citi, a bank-led, digital meeting place that connects businesses seeking loans up to $10 million. The “first-of-its-kind platform is aimed to expand access to capital and financial services to Black small business owners.
The platform launched by Citi matches local and regional banks with local small businesses needing funding for improvements and expansion amid the post-COVID-19 pandemic.
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