The Fund for Inclusive Entrepreneurship:

A Collaboration with the Department of Treasury 

 

On October 5, 2022, Vice President Harris announced the launch of the Fund for Inclusive Entrepreneurship (the Fund). Organized by Hyphen in collaboration with the U.S. Department of Treasury and Next Street, this $100 million national initiative seeks to expand access to capital for small businesses owned by people of color. The Fund’s launch is highlighted in the White House Fact Sheet and was covered by Axios and the NYT Dealbook.

 

The Fund will leverage $10 billion in ARP funding through the Department of Treasury’s State Small Business Credit Initiative (SSBCI). It will make grants to build the capacity of high-impact community lenders, and make capital investments to amplify the economic benefits of SSBCI funding in underserved communities across the United States. Funders interested in learning more should contact the Hyphen Team for additional information. 

 

See Hyphen’s Media and Resources page for press coverage about the Fund. 

 

“The State Small Business Credit Initiative has made an historic investment in entrepreneurship and innovation that is structured to ensure communities of color, rural areas, and others that have difficulty accessing capital, are able to get the financing they need to grow and scale.  Partnerships between states, private sector, philanthropy, and nonprofits will be critical to the Initiative’s continued success.” 

–– Janet Yellen, Secretary of the Treasury (as quoted in Hyphen’s press release)

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