This Non-Profit Launched A Crowdfunding Platform To Help Minority Businesses Access Capital

It can be tough raising funds for a new business, but thanks to a new platform, crowdfunding is a bit easier.

Community InvestmentsTM (NCI), an organization that makes financial that target underserved women, minority and veteran-owned small businesses, recently announced the launch of Impresario, described as “a crowd-sourced capital access solution focused on helping diverse small business owners that are historically excluded financially and at inequitable rates.”

Per a news release, Impresario has recently announced its partnership with Crowdfund Better to expand their funding reach.

“Underserved women, minority, and veteran-owned small businesses often face significant barriers to accessing capital funding,” said Quentin Strode, President and CEO of Impresario in a news release. “Impresario leverages NEW’s more than 30-year history of empowering underrepresented populations and provides a compelling way to level the business playing field. We are beyond excited to start this new chapter in our ongoing pursuit of equality to help create generational wealth, especially in our diverse communities.”

$17.2 billion USD is raised via crowdfunding yearly and it is not projected to slow down anytime soon. Impresario points out that crowdfunding allows minority owners to get funding seeking out expensive bank loans or giving up equity of their business.  

“In Los Angeles, we know that when women thrive, so do our communities,” said Mayor Eric Garcetti. “By opening doors of opportunity for current and aspiring women entrepreneurs, Impresario is setting them up for success and building a stronger, more equitable future for all Angelenos.”

Those who qualify will have access to a tiered-structured crowdfunding training, business coaching, technical assistance, and individualized support available virtually for free.

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