BIPOC-owned small businesses play a crucial role in creating jobs, providing essential services, driving ownership in communities and generating economic growth, yet still face significant challenges accessing capital. CDFIs play a critical role in closing this funding gap. Pacific Community Ventures’ model for deploying restorative capital provides additional support to clients through pre- and post-engagement support – with an ultimate goal of supporting entrepreneurs of color in creating good jobs that facilitate wealth building for themselves and their workers..
Upon observing positive outcomes in our client portfolio, PCV partnered with Detroit Development Fund, and two other CDFIs participating in the Entrepreneurs of Color Fund to explore the opportunities for the BusinessAdvising.org to complement their capital staff and technical assistance offerings to enhance client success.
At the end of the collaboration, 89% of clients receiving advising were able to meet at least one of their stated goals for the partnership including accessing additional capital, pivoting to sustain their business through COVID-19 and pursuing job quality measures for their workers.
Learn more about our Good Jobs resources, business advising, and affordable capital