CommCap America, an organization dedicated to assisting minority entrepreneurs in finding the capital they need to succeed, recently launched a tour of the U.S. to bring attention to the lack of funding for minority-owned businesses.
The Unite2Fight4EconomicRights is visiting locations across the county this week, according to a flyer from CommCap. The goal is to draw community and media attention to the need for a united effort to address capital funding inequality.
Black and other minority U.S. citizens make up 40% of the population, according to the flyer. Yet of the $20 trillion in aggregate assets held by the nation’s 5,200 Federal Deposit Insurance Corp.-insured banks, only $250 billion is controlled by the nation’s 144 minority-owned banks.
The group, with a statement of beliefs that includes a pro-capitalism stance that identifies a lack of access to capital as one of the underlying factors affecting minority success, recently held a rally in Dallas, according to a flyer from the organization.
The #Unite2Fight4EconomicRights tour seeks to promote workable solutions that will help create real economic justice and reform for black, Latino and other minority Americans, according to the flyer.
Kareem Lanier, chair and CEO of CommCap America, said that the organization supports President Trump’s Platinum Plan. The plan outlines several measures to increase capital available to Black entrepreneurs in order to assist them in creating businesses and economic potential within their communities.
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