News

The National Community Reinvestment Coalition (NCRC), Equivico by NCRC, and the Stavros Niarchos Foundation (SNF) today announced the recipients of the Stavros Niarchos Foundation (SNF) Small Business Growth & Recovery Fund’s inaugural grant program. The program awarded $1.3 million to 65 small businesses through grants of $20,000 each that do not need to be repaid to fund projects that will help businesses across the U.S. pivot, drive innovation, and grow in a challenging economic landscape

By Equivico |

 June 15, 2021

We are always interested in talent. People with strong, relevant backgrounds who want to work in an innovative market to drive change should reach out via the email below: jobs@equivico.com
Confronted with a rapid decline in sales and revenue, small businesses need access to capital to cover rent, payroll, inventory, and other expenses. Government along with the private sector are rolling out funding solutions to support small businesses and contain rapidly rising unemployment and its consequences on communities across the U.S..
The National Community Reinvestment Coalition (NCRC) and the Stavros Niarchos Foundation (SNF) today announced the launch of a major new initiative, the SNF Small Business Growth & Recovery Fund. The fund’s mission is to help U.S. small businesses, focusing on those owned by people of color, women, and veterans as well as those in lower-income communities…
NCRC surveyed 938 small business owners across nine metropolitan areas from October 23, 2020, to December 29, 2020. The purpose of the survey was to determine whether small business owners explored other options, such as lease and loan modifications to save their businesses, and if so, did they access them. The survey found significant differences in the rates at which Black, White and Latino small business owners contacted lenders to inquire about credit product modifications, and in the rates of approvals of loan modifications.
In a new round of mystery shopper tests at 47 different financial institutions in the Los Angeles region, Black female and Hispanic male testers were treated less favorably than white testers even though the minority testers had stronger financial profiles. The testing revealed the behaviors that financial institutions implement to discourage members of protected classes from applying for credit.
The $2 trillion federal stimulus plan enacted late last month to help businesses and individuals impacted by the COVID-19 pandemic is already overwhelmed and falling short. Congress authorized nearly $350 billion in forgivable loans and the Senate is expected to vote Thursday on an additional $250 billion so small business owners can pay employees and remain in business during this crisis…
On February 22, 2020, Equivico by NCRC’s Eleni Delimpaltadaki Janis participated as an Impact Investing panelist at the 29th annual Dynamic Women in Business Conference at Harvard Business School. The event, which was presented by the Women’s Student Association at HBS, consisted of keynote speeches, 20+ panels, a networking lunch, and a post-conference reception.
The National Community Reinvestment Coalition (NCRC) evaluated 120 matched-pair tests involving a mix of gender and race combinations at 90 bank branches belonging to 54 different financial institutions in the Atlanta, Georgia, and Washington, D.C., metropolitan statistical areas (MSA). NCRC found that while all testers received inadequate treatment from banking personnel, women and people of color reported the worst experiences.
On March 11, 2019, Equivico by NCRC’s Eleni Delimpaltadaki Janis served as moderator of a dynamic discussion on the accessibility of capital resources to those in traditionally underserved communities. Eleni was joined by local ecosystem builders from cities across the nation to tackle topics such as public policy reform and how capital resources can be made available to entrepreneurs of color.

About Equivico

Strategies like ESG or Impact Investing already exist, but are not deployed at sufficient scale. Positioned at the crossroads of capital, community and technology, Equivico, a woman-owned asset management firm, in partnership with the National Community Reinvestment Coalition (NCRC) is deploying innovative strategies to facilitate high-volume lending to small businesses, including but not limited to women, minority and veteran owned businesses and those located in low and moderate income areas. At Equivico, we have a deep conviction that financial markets can do more to fuel economic growth in underserved communities while generating impact-rated returns.