Landing a big contract is a dream come true for many small businesses, but you often need access to working capital for additional insurance, new equipment, payroll, and more to make that dream a reality,” said Lauren Grattan, chief community officer and co-founder of Mission Driven Finance. “We want to make sure that capital isn’t a barrier for diverse-owned businesses to grow. To that end, Mission Driven Finance embraces inclusive lending processes, like not using personal credit scores and guarantees — which can be steeped in racist biases — and offering culturally relevant investment options such as Islamic financing.
The Council for Supplier Diversity strives to provide a gateway for diverse suppliers to expand and increase their bottom line. Through training and interaction with corporate members, the council helps to build supplier capacity and revenue growth opportunities for minorities, women, service-disabled veterans, and other diverse businesses.
Working with a community lender like Mission Driven Finance is critical to help diverse suppliers in our region be as competitive as possible in bidding for projects,” said Ronald B. Garnett, president and CEO of the Council for Supplier Diversity in San Diego. “We have the common goal of wanting to see our communities succeed.
Public announcement: San Diego Union Tribune , San Diego Business Journal