In a word, Tina Miao-Granatt would describe her life as “blessed.” Her family moved from Taiwan to Philadelphia when she was 12 years old. There, her parents owned and operated a successful Chinese restaurant. As the small business grew and grew, so too did Tina’s list of responsibilities, from dishwasher, to busser, to waitress. Although she spent most of her weekends working in her parent’s restaurant as a teenager, it turned out to be a formative experience for Tina. “I understand the struggle for small business owners,” she said, “especially in minority communities. I know it’s really, really hard for them to succeed.”
Tina’s ability to empathize and connect with small business owners is ultimately what led her to getting a job at Asian Bank, a CDFI and Asian-owned Minority Depository Institution headquartered in Philadelphia’s Chinatown. Asian Bank was founded in 1999 to serve low- to moderate-income, BIPOC, and immigrant communities. Since its inception, Asian Bank has grown to two, soon-to-be three, branch locations and $515 million in total assets while working to increase banking access to those that are un- or underbanked. Additionally, the bank provides lending on small business, real estate, and affordable housing.
Tina Miao-Granatt, Community Outreach Liaison at Asian Bank
A cornerstone to Asian Bank’s lending approach is to be flexible in underwriting small business and real estate loans, which requires not just knowing community members’ stories, but understanding those stories and knowing where and how to provide assistance. That’s where Tina comes in. In 2023, Tina moved from California to Philadelphia without a job. Because she lived close to one of Asian Bank’s branches, she applied for a teller position; however, her interviewers looked at her past small business experience and decided to create a position for her: community outreach liaison.
In her role at Asian Bank, Tina works one-on-one with clients to open accounts, apply for residential mortgages, get a secure safety deposit box, and purchase CDs; however, an equally important part of her job is to provide individual support to small business owners to help them through the lending process, regardless of what language they speak. For example, recently, Tina has primarily been working with bodega owners. Despite not speaking Spanish, Tina has forged a close relationship with the Dominican Grocery Association, and she relies on Google Translate to text with Spanish-speaking small business owners in her community who are looking for business loans but who’re too intimidated to approach large, national banks. Additionally, Tina has made a point to have all of Asian Bank’s loan document requirements to be translated into Spanish, Chinese, Vietnamese, Cambodian, and other languages that reflect the surrounding community’s linguistic diversity.
All the photos for this interview were captured at a financial literacy seminar hosted by Asian Bank for the Dominican Grocery Association
When Tina first connects with a small business owner who wants to apply for a loan at Asian Bank, she has to get a sense of their financial well-being. That includes going through their tax returns and, oftentimes, discussing their low credit scores. According to Tina, many small business owners in Asian Bank’s footprint are exactly like her parents; that is, they primarily use cash and do not have credit cards, open lines of credit, or debt. Therefore, many individuals that Tina works with have low credit scores that hinder their ability to be approved for loans, especially from traditional banks, which often require a credit score of at least 700. However, by investing time to get to know small business owners in her community, Tina can get a more complete picture of someone’s financial and personal histories. That allows her to get the documentation and narrative she needs to work with Asian Bank’s loan officers and underwriters to in turn get those loans approved.
Even after a loan closes, Tina continues to touch base with Asian Bank’s loan recipients to see how they’re doing. “I let them know they can text me anytime they want,” she said, “and it doesn’t have anything to do with their loan. I help them answer their questions about reporting taxes, credit card rates, building credit. That’s really important, especially with minority communities that don’t have anybody to turn to when it comes to their finances.”
Individualized Support for Community Impact
In addition to coaching small business owners through Asian Bank’s loan application process, Tina similarly assists entrepreneurs in her community in applying for local grants. For example, there’s a grant program through the Philadelphia Business Lending Network that’s available to local small business owners with five or fewer employees and less than $250,000 in revenue. Selected recipients qualify for either up to 50% of their loan amounts or $35,000, whichever is less. What Tina will do is help small business owners get approved for a loan through Asian Bank, and then she’ll work with them to apply for the citywide grant. For a small business owner looking to purchase new equipment and expand their business, the loan-grant combination can be transformative.
Tina shared one story about a local small business owner named Kim, a single mother, who wanted to expand her beauty salon, Four Season Nail and Spa LLC. Tina helped Kim to get a $70,000 loan through Asian Bank and then $35,000 through the Philadelphia Business Lending Network grant program. The key to making that happen, Tina said, was working with Kim to itemize exactly how the money would be spent. In other words, Tina and Kim spent hours researching how much it would cost to purchase everything from styling chairs and massage tables to nail polish and face towels. “We want to help the people that really appreciate and need this grant,” Tina said. “That means really getting to know our clients and really understanding where they’re going with their vision so that we can be a part of it.”
Unsurprisingly, an important aspect of Tina’s job at Asian Bank also happens to be one of her passions: financial literacy. According to Tina, she wants to help people “break the cycle” of low credit scores and all-cash retirement savings. To do that, this year, Tina will begin hosting a free financial literacy seminar series in different communities around Philadelphia. Individual seminar topics will include tax reporting, successful small business ownership, and credit building. Additionally, Tina and Asian Bank are partnering with the Small Business Development Center to also present the seminars in Spanish.
Very much like her years spent working weekends at her family’s restaurant in Philadelphia, today, Tina represents Asian Bank at various events, workshops, and community gatherings outside of traditional business hours. Alongside her colleagues at Asian Bank, she also serves as a pitch coach for Goldman Sachs 10,000 Small Businesses and she volunteers with Black Squirrel Collective, a Philly-based organization committed to investing in Black-owned suppliers and creating sustainable neighborhood investment. In other words, as Asian Bank’s community outreach liaison, Tina is busy. “I really like what I do,” she said. “I like being in this position to connect people to the right products we offer, and I enjoy how I can help out my community.”
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- Asian Bank, a CDFI and Asian-owned Minority Depository Institution headquartered in Philadelphia’s Chinatown.
- CNote is a women-led investment platform that empowers individuals and institutions to invest locally to further economic equality, racial justice, gender equity, and address climate change.
To assist his community where he can, Rich is working with local leaders to change how Beardstown’s tax increment financing (TIF) programming works so that a portion of those monies can go toward creating new housing. Additionally, Beardstown Savings has partnered with 
For Labor Credit Union, however, its involvement with Dora isn’t about growing its membership: it’s about achieving its own long-term goals. Although Thomas and Hina’s 10-year vision for the credit union includes growing its membership numbers, increasing its assets, and expanding its footprint into new markets, those metrics are stepping stones toward Labor Credit Union’s ultimate objective: to have an impact and help people achieve financial success in as many communities as possible. 
That, in part, is what led Labor Credit Union to create its own foundation, which spearheads the institution’s community outreach efforts. 
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Although NYU Federal Credit Union’s assets have grown considerably since Mira joined in 2006, the credit union is still too small to carry a high number of mortgages on its balance sheet, despite the demand from its membership. Therefore, to meet its members’ needs, the credit union forged a partnership with the United Nations Federal Credit Union. NYU Federal Credit Union sells its mortgages to United Nations Federal Credit Union, but holds onto 10% of each loan. In return, United Nations Federal Credit Union gets to improve its balance sheet, while NYU Federal Credit Union gets to serve more members. Last year, the arrangement resulted in NYU Federal Credit Union earning approximately $400,000 in fees, which Mira says was a “huge boost” to the credit union’s bottom line.
From their humble beginnings in the Red Barn with ten students on their roster, they now have over 100 kids and are setting their sights on obtaining college gymnastics scholarships.
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Another way the credit union is able to support its members is by helping them to think beyond their financial wellness to other aspects of their lives. Azul has attended countless resource fairs, where she’s forged relationships with community partners. That has allowed her to build upon Comunidad Latina’s curated database of community resources that range from English courses and citizenship classes, to medical services and college enrollment assistance.
A cornerstone of Freedom First’s work is its award-winning Responsible Rides® auto purchase program, which Kim has coordinated since September of 2015. The program is geared toward low- to moderate-income earners who need their own car but struggle to afford a traditional car loan due to credit challenges. Responsible Rides®, however, doesn’t just hand out car keys. Instead, applicants must meet specific guidelines, including having a valid driver’s license, the ability to have full-coverage auto insurance, and proof of employment that goes back at least 90 days. Applicants also can’t have more than $1,500 in unpaid collections, judgments, or charge-offs. Additionally, in order to qualify for Responsible Rides®, individuals must meet with a financial counselor and complete courses on finances and budgeting, as well as car maintenance and care.
Unsurprisingly, Kim finds her work with Responsible Rides® extremely rewarding—but she isn’t the only one who feels that way. Local used-car dealers also enjoy participating in the program. An important aspect of Responsible Rides® is that individuals have the option to pick their own car, including test driving it and getting it checked by a certified mechanic. Therefore, Kim does everything she can—including doing a fair bit of research—to ensure that Responsible Rides®’ clients have positive experiences getting their cars from dealerships.
Relationships are one way that Kim has been able to originate 523 loans totaling $5.9 million since she began coordinating Responsible Rides eight years ago. Kim works closely with a network of local nonprofit partners, including 
In 2019, The Cheyenne River Sioux Tribe approached Jayme with an offer to take over the management of their buffalo corporation, a business corporation which operates independently of, but is owned by, the tribe. For Jayme it was a perfect opportunity to bring his expertise to an organization near and dear to his heart.
A software coder, Akinniyi grew up in Dallas, the child of Nigerian immigrants. After attending Boston University and earning an MBA, he joined a consulting firm. Akinniyi played football in college and even had a short stint in the NFL with the Minnesota Vikings. Many of his college football teammates came from the Baltimore area and Akinniyi was drawn to the city. He saw the area’s potential, a community where an aspiring entrepreneur might make a difference. Akinniyi has long had an interest in real estate and Baltimore was a place where a new developer like himself could get involved.
“I would work with Baltimore Community Lending as much as I can
Akinniyi hopes his new apartment building and the larger residential community he’s planning, will provide a home for residents who want a decent place to live and thrive. Unlike unscrupulous out-of-town real estate opportunists hoping to make a quick buck, he’s staying in Baltimore and making his investments part of the solution instead of part of the problem.
Come April 2012, however, Jason had grown bored with his full-time job, and he and his wife, Shelly, began to talk about their next professional moves — including Jason potentially starting his own brewery. The couple visited one of Jason’s old brewing buddies in Fort Collins, Colorado, who owned and operated his own brewery. Jason and Shelly toured the operation, and their time in Fort Collins left them feeling confident that they had what it took to run their own small business. Two days later, the couple met with some of Jason’s homebrewing friends back in Pagosa Springs, in Southern Colorado, and together, they decided to open a brewery by Memorial Day 2013.
Riff Raff Brewing Company is 
Going forward, Jason and Shelly have considered expanding Riff Raff Brewing into Northern New Mexico and potentially Lubbock, Texas, where the two went to school at Texas Tech; however, in the short term, the couple is more interested in doing what they need to do to transition the brewery into an employee-owned business. Currently, between its two restaurants and its brew house, Riff Raff’s staff ranges from 62 to 85, depending on the season. For example, when Pagosa Springs population swells from roughly 13,000 residents to more than 50,000 during the summer months, Jason and Shelly rely on a larger pool of part-time employees to serve their customers. “I’m not gonna lie,” said Shelly, “I enjoy having our two locations. We’ll pursue opportunities that come to us naturally and that feel like the right fit for Riff Raff, but we’re being smart with our growth.”
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Fortunately, DREAM didn’t have to make that lift alone. Instead, the nonprofit had the support of 
As most banks were struggling with how to navigate the Paycheck Protection Program (PPP), Carver was able to secure $6 million in PPP loans for DREAM, which allowed the organization to keep everyone employed. In the following months, Carver also helped DREAM to make sure that those PPP loans were ultimately forgiven. With that money, DREAM was able to hire and to maintain enough staff to run both online and, come October 2020, in-person classes for its charter schools. DREAM also maintained its extended-day, extended-year model, including its free afterschool and summer programming, while creating a healthy and safe environment for its scholars and families.
Additionally, DREAM recently signed a lease for a 100,000-square-foot space in the Highbridge section of the South Bronx, which will become the permanent home of DREAM’s charter schools in that neighborhood in the coming years. According to James, expanding DREAM’s charter schools is a direct response to what the nonprofit’s community needs and wants. For example, in East Harlem, DREAM’s waitlist is more than 1,000 students. That means that until DREAM is able to grow its charter schools to meet that demand, the organization will continue to find ways to engage with community members, create deep relationships with families, and provide ongoing services to youth.
Outside of CUNA, Mike serves on the board of the 
CNote: What’s on the horizon at CUNA that has you excited for the future?
For the vast majority of its 16-year existence, the credit union has operated with a staff of two and volunteers as available. Last year, the credit union received grant funding enabling it to hire additional staff members—a marketing specialist and member service representative. As a team of four, they work together to provide amazing customer service and outreach to community members.
Soon after Rachel became New Covenant Dominion Credit Union’s CEO, the credit union’s leadership applied to be 
‘We Don’t Say No, We Say When’
This was especially true during the early waves of the COVID-19 pandemic, when deposits drove up liquidity but falling interest rates meant that financial institutions like Opportunities earned very little interest on that cash. To bolster its margin, the credit union focused on lending areas like 
In addition to serving New Americans, Opportunities Credit Union also serves community members who are unhoused and underbanked, including individuals who are struggling with mental health, living in homeless shelters, and/or surviving on social security disability payments. According to Kate, the credit union works at the intersection of mental health and money. Although she acknowledges that she and her team aren’t social workers, Kate said that the credit union is able to “help people whose emotional needs touch their financial needs” through 
Opportunities Abound
Additionally, in 2022 alone, Opportunities made 10 staff promotions from within the organization. According to Kate, this has been a win-win for the credit union not only because those employees already know Opportunities’ culture, mission, and systems, but because it’s signaled to entry-level hires and 
Another strength of this unique structure is that both First Southwest Bank and First Southwest Community Fund have access to different funding streams that enable them to make loans. For example, 
HelloBello is Here to Help
Kent and Sherry
Given the narrow window of time and the hefty price tag, another CDFI nonprofit —
Unfortunately, the mobile home park’s owners rejected the residents’ initial offer. That’s because, according to Kent, First Southwest Bank had to order an appraisal, which became a contingency. Miraculously, within nine days of the rejection, Elevation Community Land Trust was able to bring in 
In the end, the residents’ second offer was accepted by the owners, and the co-op officially took over ownership of their land in late April 2022. It took the creativity, agility, and commitment of three different Colorado-based CDFIs to make it happen; but, according to Kent and his team at First Southwest Bank, the experience has been a win-win for everyone involved. There’s little question, however, that the biggest win belongs to the residents of Westside Mobile Home Park. Their success put an end to the inter-generational legacy of displacement experienced by many in their community. Just ask Alejandra Chavez-Alvarez. “The process started and somewhere along the way we lost our fear,” she 
And while Sandy is grateful for her new car and the reduced rate she received, she is most appreciative that One Detroit Credit Union took the time to look at her whole story.
Unsurprisingly, Wendell and his colleagues have an unmatched desire to shrink the wealth gap in metro Chicago, with an emphasis on the South and West sides of Chicago by giving people in the community the opportunities they need to be successful. For Wendell, that means underwriting deals — deals that traditional lenders won’t touch — that will ultimately benefit both community members and the CDFI. In the past five years, Wendell has underwritten investments at Chicago Community Loan Fund that leveraged more than $443 million in real estate transactions that strengthen lower-wealth communities. “We want to allow wealth to flow,” he said. “When that wealth flows, it opens up more opportunities, because families have more to do more with. At the end of the day, our role is to help create more wealth in these communities — period.”
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And grown it has. According to Charlie, DOF’s first few years were difficult, especially when it came to fundraising; however, the CDFI has been able to grow its total assets from $390,000 in 2008 to $71.4 million in June 2022. Despite not knowing much about the CDFI industry prior to launching their own CDFI, over the past 16 years, Charlie and Nanci have found ways to expand DOF’s portfolio, work, and team in a way that’s demonstrative of the creativity and community-mindedness that’s often associated with the industry.
DOF saw an opportunity to get involved. At the end of 2018, the CDFI won a federal economic redevelopment grant through the CDFI Fund. When DOF received the money in early 2019, Charlie and his team didn’t have to think hard about where they wanted to focus their efforts. They returned to White Sulphur Springs, met with a delegation that included elected officials, town elders, and local merchants, and, ultimately, purchased a city block. Over the next three years, DOF gut-renovated the buildings, including 16 apartments, and the CDFI invested in enhancements to make sure that the town center would be prepared for the next 1,000-year flood. When the work was completed, the CDFI rented out the residential units at 50% market value and the commercial spaces at $5 a square foot.
For Charlie, the experience was more than enough to get him excited about what other opportunities might exist when CDFIs like DOF and impact-seeking enterprises like Netflix are able to connect through CNote’s custom notes. “That’s the key point of CDFIs doing the work versus a private equity firm doing the work. In looking at community revitalization, PE firms’ first priority is the financial return of a project. CDFIs are asking, ‘what’s going to make sense for this community?’ We can’t give you a 22% return on your investment like PEs, but we are going to give you a 100% return on impact.”
According to Bill, CADA helped him get into counseling, and after five or six years, he left the nonprofit to pursue opportunities that he never would have had without Dan Talley’s guidance and CADA’s support. However, in 1998, when a management position opened up at CADA, Bill didn’t have to think twice about whether or not to apply. He got the job, returned to CADA, and Dan Talley became his boss. Bill’s been at CADA ever since.
That was the case for Susan. According to her, before she was sober, and even early into her recovery, she thought that having a bank account was out of reach. However, thankfully, she was given the opportunity to open an account: a seemingly small accomplishment that helped to propel her forward in her recovery. That’s because, as she described it, having a bank account boosted her self-esteem and made her feel like a human again.
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That’s when a 40-year-old Terri-Nichelle went on a quest to find her purpose — luckily, she didn’t have to travel far. On a popular mountaintop outside of Atlanta, Terri-Nichelle put the question “what am I supposed to be doing?” out into the ether. The answer she received was “look at your life.” Her subsequent reflections took her back to her Minnesotan childhood, where Terri-Nichelle’s mother surrounded her family with Black art and kept Black magazines on the coffee table. Even though she wasn’t necessarily surrounded by neighbors who looked like her, Terri-Nichelle grew up knowing that Black people could be successful. As a child, that knowledge allowed her to dream.
Terri-Nichelle launched her company as a subscription service in October of 2017. By June the following year, she shut it down. According to her, she didn’t have the requisite business acumen, which meant that Brown Toy Box had been destined to fail fast from the beginning. However, Terri-Nichelle wasn’t discouraged. She’d learned about her customers and the market, and she was willing to give it another shot. “I said to myself, ‘if you’re going to do this, you’re going to do it right,” Terri-Nichelle said. “‘You’re going to have to do the training so that you can be very intentional and purposeful about how you’re going to relaunch this business.’”
On Target
Terri-Nichelle reached out to ACE, and the CDFI was able to get the toy manufacturer the necessary financing needed to execute the Target deal. Although the larger deal was eventually underwritten by many participating institutions, 
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Kauaʻi is one of the smallest and most remote land masses on earth. In 1992, Hurricane Iniki caused devastating damage to the island. It is in times of great adversity that Kauaʻi and its community shine the brightest. Due to the inability of large groups to meet, Kauaʻi FCU began hosting small pau hana (after hours gatherings) at their newly opened Kilauea branch. The new branch provided a space for community members and leaders to meet, connect and talk about their challenges at a time when everything was shut down. Ivory attended, with a few other community members, and it was then that her interest in community building began to take a sharper focus. For the first time, she learned the distinction between credit unions and banks. The social mission behind credit unions and the way Kauaʻi FCU ʻfeltʻ and was being led, were completely different than any other financial institution she had ever known.
Starting as a teller, Ivory was able to meet the members and learn the mechanics of the credit union. She began helping Kauaʻi FCU’s Community Development team with rent relief programs including a program with Aloha United Way that no other credit union on Kauaʻi was involved in. In 2021, when it was clear the pandemic was not over, Kauaʻi FCU created a new position, COVID Recovery Program Manager, with a sole focus on creating economic resiliency for Kauaʻi. Ivory jumped into the role with trademark enthusiasm and was able to bring her work as a small business owner, mother and resident of Kauaʻi into full play. “I love bringing people together and I love to connect with them,” she says. “This really translates into the work that I do now, as an advocate for small businesses within the credit union space. I figure out how we can support them (however it may be) as a financial institution.”
3. Economic Diversification. Like the rest of Hawai’i, Kauaʻi’s economy centers around tourism. When the COVID-19 pandemic grounded planes on the mainland, the island instantly lost its major revenue stream. Once this happened, Ivory says people began to realize that they needed to do things differently, including thinking about their shared economic sustainability. As the owner of a small business that primarily catered to tourists, she herself had to think about how she could pivot her business to be tied more to Kaua’i and less to those visiting it.
The Creativity To Say ‘Yes’
Meda believes so much in the importance of cash flow that its primary 
3. Meda views banks as partners. Having spent three decades in banking, Patrick knows that banks aren’t CDFIs’ enemies: banks are regulated. However, even though Meda can be creative to serve its community in flexible ways that banks can’t, the CDFI still works very closely with local financial institutions. Because Meda strives to help its borrowers scale to over $1 million in revenue in less than 36 months, Patrick says that it’s in banks’ best interests to refer customers to 
Unsurprisingly, Meda was behind OurPlace Residential Services from the very beginning. The CDFI leveraged its contacts in the real estate community to locate a promising apartment building, and it was unfazed by the $2.5 million price tag to acquire and renovate it. Patrick had trust in his construction background, and Meda is engaging with potential funding partners, like the City of Minneapolis, to position OurPlace Residential Services’ new building for success.
It was about two-and-a-half years after joining Penquis that Lorain ultimately found what she calls her “volunteer job” at 
On February 12th, Come Spring made its purchase offer to the building’s owners, and, incredibly, the deal closed on March 31st — 64 days after Lorain and the CSFP Teams initial decision to move the pantry’s location. Meeting the March 31st deadline was significant, Lorain explained, because doing so meant that Come Spring didn’t have to pay taxes on the building for the next year. Therefore, the speed for which The Genesis Fund and the lawyers were able to help Come Spring close on its offer saved the food pantry $3,500. “For us, that’s huge,” Lorain said. “Genesis was amazing to work with. They believed in us from the beginning, and everybody pulled together and made it happen.”
“We encourage people to come and get food basics from us and spend their saved income on gas, heat and to keep their car running so they can get to work and children to school. I don’t want anyone in my community to not know that there are food pantries here where anyone can get food,” Lorain said. “It’s a labor of love, and I love making sure that everybody in western Knox County is fed. It doesn’t get any better than that.”
Charles is especially excited about Capital for Change’s energy efficiency loans, which help homeowners to conserve energy usage and decrease costs through audits, retrofits, and alternative/clean energy improvements. Charles estimates that on 
Eventually, Martina returned to her southern roots and moved to Atlanta, where she started to reflect on what she wanted to do long term with her career. She knew she wanted to be on the forefront of working with minority women in business enterprises, but she didn’t know exactly what that might look like. That’s when Martina found herself listening to a panel discussion featuring 
The Three C’s
3. Connections. Because ACE knows that many of its clients don’t have a network of other small business owners to rely upon, it strives to 
Additionally, just like ACE offers its clients an opportunity to network, Martina says that CNote has helped ACE connect with peer CDFIs across the country who’ve shared best practices, strategies, and ideas that have helped to make ACE more efficient. Similarly, ACE has gained visibility from CNote’s platform, which attracts impact investors, donors, and individuals from localities well beyond Georgia’s borders who want to support women business owners. “I feel like we’re the best kept secret, but we don’t want to be the best kept secret,” Martina said. “That’s why CNote is such an instrumental partner for us beyond capital, because CNote can talk about us in rooms that we don’t necessarily get access to.”
To help educate community members that they don’t have to be employed by a school to join the credit union, in 2020, ECU decided to pair its decades-old brand recognition with a new tagline: “Learn More, Live More ®.” According to Eric Jenkins, ECU’s CEO, those words say it all. “We’re staying true to our scholastic roots, because we wouldn’t exist without the educators who founded us,” he said, “but the ‘education’ part of our name is we are striving to teach consumers financial responsibility and wellness so that they can live more.”
3. BUFF $MART Program: In partnership with West Texas A&M University (whose mascot is a buffalo), ECU launched a financial literacy boot camp designed for college students. Since 2018, more than 300 students have gone through 
Since its inception, Project Fighting Chance has built itself a championship reputation within the national amateur boxing community. For example, in 2018, 
Going Toe-to-Toe With A Global Pandemic
Thanks to Self-Help, Project Fighting Chance applied for and received two rounds of PPP loans, which meant that the nonprofit did not have to lay off any of its six employees. The PPP funding also kept fuel in Project Fighting Chance’s tanks — literally. For the first 18 months of the pandemic, the nonprofit used its two vans to deliver 170 meals every day to youth around San Bernardino, ensuring that those experiencing food and transportation insecurity at home could still be served. “The PPP funding proved critical, because it allowed us to repurpose the organization to support young people and their parents in the community,” Terry said. “We were the place they could count on every day, and we basically got those funds and invested them into the community to make sure that we could stay available to these youth.”
Whether it’s local council members, California state assembly members, school district administrators, teachers, mentors, counselors, therapists, coaches, parents, or credit unions like Self-Help, Terry is quick to acknowledge the broad 
What Mellaney wants for her business’ future is to expand into other cities, to grow its operations, and to bring as much of its supply chain as possible in house. Her ultimate goal, however, is to franchise American Home and Commercial Services and to one day go public. She’s a vocal promoter of 
Full Steam Ahead
Given where she was and what she was doing five years ago, it may seem unbelievable what Danielle is doing today as the founder and CEO of Topsail Steamer; but, for Danielle, something like this was always in the cards for her. She grew up watching her father, who happened to be a small business owner himself, and according to her, one of her strengths has always been to identify opportunities around her. In the case of Topsail Steamer, while it’s been a blend of opportunity, timing, and serendipity that has contributed to its success, the business’ skyrocketing trajectory is in large part a result of Danielle having faith in herself. Unsurprisingly, when asked what advice she has for other late-in-life entrepreneurs, it’s the same advice that she’s told herself time and time again: “just have confidence in yourself.”
Even before the pandemic sent the U.S. into a lockdown in March 2020, entrepreneurs around the country feared that their small businesses wouldn’t be able to survive an economic shutdown. However, when 
While hundreds of credit unions and CDFIs like TruFund were able to play their part as 
‘We’re Gonna Need A Bigger Boat’
That, and the desperation he could so clearly hear in Self Help’s clients’ voices. Not only were people’s livelihoods on the line, but for nonprofits and social enterprises dedicated to serving communities, the PPP loan applications were about more than paying employees: they were about keeping things like youth programs running, health clinics operational, and food banks open. “If someone called me at 8:30 pm while I was at a football game with my son, I was gonna take it,” Jim said. “You can’t take care of everybody, but at the end of the day, if you take care of the people that are taking care of the people, then people will be taken care of. That’s what Self-Help does.”
Perhaps not surprisingly, Jim won’t be returning to his life of semi-retirement anytime soon — he signed on full-time with Self-Help in July of 2021. According to him, he fell in love with the credit union’s focus on minority-owned businesses, nonprofits, and other enterprises that traditional banks typically don’t consider, and he’s already feeling like he’s making a difference. “You go home every night feeling like you did some good,” Jim said. “I haven’t felt this good in my 30-something years in banking, where my stress is a blessing because I get to come back tomorrow and ask ‘how do we do more?’ At Self-Help, that really is the goal every day.”
Deshonda received her law degree from Tulane University in 2003 and went on to pass four different Bar Exams in four states: Louisiana, Connecticut, New York, and Texas. Deshonda landed a position in a small boutique law firm in Houston, Texas after graduating and for just under six years she thrived at networking and promoting her services. Deshonda’s knack for generating business was recognized by the firm’s managing partner, and her mentor, who occasionally asked whether she’d ever considered starting her own practice. According to Deshonda, not only was he a wonderful mentor to her, but when she decided to initiate a conversation with him about going her own way six years after joining the firm, he told her that she had his full support. More so, he approved of her taking all of her current clients with her.
Do Better Business
Yet another challenge presented itself to Deshonda when she attempted to secure PPP funding for TTF. She went to the only big bank where she’s ever done business to inquire about resources, guidance, and PPP eligibility. According to her, she might as well have walked into the room and thrown spaghetti on the walls. “They just didn’t care,” she said. “I couldn’t get a banker to even acknowledge that I had submitted the application because I wasn’t a big enough fish.” Frustrated, Deshonda turned to the support group of like-minded minority women business owners that she’s a part of in Houston. That’s when one of her good friends referred her to 
Not only did TruFund help Deshonda secure PPP funding so that she could pay herself, contract lawyers and as-needed, support staff, but the CDFI immediately plugged Deshonda into its suite of 
Today, Deshonda feels good about the state of her business. More importantly, she feels good about the direction that her business is going. In the coming years, she plans to do more professional speaking engagements surrounding estate planning, and she’s focused on building a team around her, including hiring additional clerical staff and another paralegal who can grow with her business. In the meantime, she plans to continue doing what she does best: being a lawyer. “I just want to be able to continue to litigate in the areas that I know,” Deshonda said, “and I want to continue to grow. It’d be nice to bring on a full-time associate attorney — that’s been a goal for two years, but then COVID happened. I’m still definitely working toward that.”
In 2007, Donna returned to Washington D.C. and became the Department of the Treasury’s first Black woman appointed director of the 
Making and selling bubble tea was a big leap for the couple: at the time, Magen was the sales director and assistant general manager at a Holiday Inn Express, and Josh had spent six years as a car salesman. Still, they didn’t let their lack of experience hold them back. Within two weeks of their boba business idea, the couple found themselves at their first pop-up event at a street festival in rural Wiggins, Mississippi. Despite their enthusiasm, the event was, as they put it, a complete flop. However, the very next weekend, the couple snagged a well-positioned booth at a festival in Josh’s hometown and tried again. This time, they brought in over $1,000 over the course of two days. With that, the couple was off to the races. For the next two years, Josh and 
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Six No’s, One Yes 
In November 2017, Leslie’s loan — to purchase the building, do renovations, and have the working capital to get her business off the ground — was approved, and despite some rezoning challenges, Leslie was able to move into her new facility on September 1, 2018. A little over one month later, she did her first trial day with clients that she had long-standing relationships with from pet sitting and dog training. By the beginning of 2019, Dog Day Afternoon Canine Social Club was officially up and running.
A Fur-ever Home 
Leslie’s above-and-beyond approach to caring for the dogs in — and away — from her community is similar to the above-and-beyond approach that Renaissance Community Loan Fund takes to support Mississippians who’re deemed unbankable by traditional lenders. Not only did the CDFI pave the way for Leslie to get Dog Day Afternoon up and running, but Renaissance also loaned Leslie and Chris the money they needed to purchase a home. Because Chris was furloughed during the pandemic and Leslie only pays herself a small salary, the two couldn’t get a loan from a bank. Thanks to Renaissance, the two closed on a house in July. “I hate to be cheesy and say that they make dreams come true,” Leslie said, “but they really do. Renaissance made our dreams come true.”
Hamil enrolled in 
HCC established HEF in 2007 to provide low-income and minority entrepreneurs with supportive loan capital and technical assistance in Harlem, Washington Heights, Inwood, and the Bronx. Lending operations began in the summer of 2008, and HEF was certified by the U.S. Treasury Department as a Community Development Financial Institution (CDFI) in 2012, and as a Community Development Entity (CDE) in 2021. Since its inception, HEF has originated 257 loans for over $4.4 million and helped create or retain over 650 local jobs. HEF has successfully raised over $1.5 million in grant funding from public and private institutions. According to Hamil, the CDFI originates loans anywhere from $1,000 to $250,000. Approximately 70% of HEF’s clients are restaurants and retail businesses, and slightly less than 10% of the CDFIs clients are part of what HEF calls its credit builder loan portfolio: a program designed to help entrepreneurs who have good ideas but poor credit.
Another one of HEF’s programs is called Opportunity for Growth, which is based on the 
Because there are few lenders in Harlem — outside of traditional big banks — doing PPP loans, Hamil says HEF has seen tremendous growth in its portfolio over the past 12 months. That growth propelled Hamil and his team to join 
Interestingly — especially when taking into account Hamil’s long tenure in the world of finance — HEF’s CEO wants the organization to, in a way, be viewed by its community as a “mini bank,” or, as Hamil puts it, “Harlem’s Own-CDFI.” “I want it to be a place that people talk about when thinking about where to go to get a small business loan,” he said. “I want my organization’s number to be at the top of the speed dial. I want Harlem Entrepreneurial Fund to be where people can walk in the door, be treated fairly, and have their stories listened to. I want it to be a destination.”
CNote: Can you talk a little more about that multiplying effect with regards to small business lending impact in your region?
CNote: Any current research or recent findings that you want to share with us?
Thankfully, Cortaiga didn’t have to close her business. Instead, she and her team are preparing to move into their new expanded center. To help get the word out, Cortaiga has been getting digital marketing assistance from a marketing and social impact consultant introduced to her through 
Cortaiga’s vision for her slice of St. Louis — and her desire to help families break out of generational cycles of poverty and to purchase local homes
For the next 13 years, John and Fern Street Circus continued to create memorable experiences in and around San Diego, and the community arts nonprofit quickly built a reputation for itself of providing people with unusual, albeit entertaining experiences close to home. Additionally, in 1993, Fern Street Circus launched a free-of-charge after-school program in the local recreation center. During that time, John learned a lot about how to create stories through circus and to make contact with diverse communities, and how to bring people together to mix and mingle around the spectacle, music, and acrobatics of his talented team of circus artists. “We want to talk to people in communities, and we want to be a way for people to come together,” John said. “Even if the story is subtle and doesn’t immediately hit people, it’s entertainment that they don’t usually see in their neighborhood parks.”
While those community-based performances and classes buoyed the nonprofit’s spirits, it still required funding in order to remain operational; however, when PPP funding became available, John was skeptical that Fern Street Circus would even qualify. Unfortunately, neither of the big-name banks that the nonprofit had banked with for 30 years was helpful. After “striking out,” John received a note from 
At 70, John jokes that he’s not getting any younger, and although he’d like to remain involved with Fern Street Circus for a long, long time, he wants other leaders in the neighborhood — who, he says, don’t share his white privilege — to be a part of the organization’s long-term vision and future. “I want to phase myself out,” John said. “It’s not just about age. What has kept us vital is that we’re equal parts circus arts and social justice, and for us to be truly representative of a neighborhood as broad and diverse as ours, Fern Street Circus’ leadership needs to reflect that.”
Ethel went through 21 weeks of chemotherapy; yet, she didn’t let that keep her from her day job at 
Ethel went back to college to work toward receiving a bachelor’s degree in business management so that she’d be better equipped to manage her company. Meanwhile, in August 2019, Bennett Construction was awarded a $600,000 contract from Mobile Asphalt Company. That paved the way for Ethel to begin renting a building for her business and to land additional smaller contracts from the City of Mobile. Ethel’s next goal is to be certified as a Disadvantaged Business Enterprise (DBE), which will allow her to bid on bigger Department of Transportation contracts that will give her more income. Her primary goal is to become a General Contractor so that she can have other subcontractors working under her. Once she achieves that, Bennett Construction will be able to bid for contracts worth millions of dollars.
One Step at a Time
Incredibly, as Bennett Construction continues to grow and to land more and more work across both Mobile and Alabama, Ethel has continued to work her 8 a.m. to 5 p.m. job at Franklin Primary Health Center. She’s thankful that her supervisors have been so flexible and understanding with the arrangement, as sometimes Ethel has to go to a job site for Bennett Construction during working hours; however, once she gets her DBE and primary contractor licenses, Ethel doesn’t think she’s going to be able to balance both jobs with her side hustle. Instead, she’s readying herself to make Bennett Construction her main focus. Mr. 
When asked whether or not she’d believe it if someone told her 20 years ago that she’d own and operate a construction company in 2021, Ethel laughed. Despite the fact that Bennett Construction wasn’t in the cards for her until relatively recently, Ethel loves her company and the work that it produces. Unsurprisingly, it’s getting the chance to see and hear about Bennett Construction’s good work in and around Mobile that brings her the most joy, and she continues to be motivated by the knowledge that she’s building a financial legacy for her family that will outlive her. “As a Black woman running a business,” Ethel said, “there are a lot of opportunities for me. All I need to do is to get to those opportunities, and that’s what my focus is on now. Getting those certifications, and getting those opportunities.”
