Investing in African American Communities
Hear Robert F. Smith speak on the importance of investing in African American communities. Smith explains how increased economic health in these minority communities can help to create a sustainable economic infrastructure. The lack of accessibility to capital and banking relationships was something that became apparent during the Paycheck Protection Program (PPP) and inspired Smith to become involved with the program. He is stewarding what he calls a “modernization of the capillary banking system” to try and connect capital to those businesses who are at a disadvantage. Smith has challenged large corporations to pledge 1%-2% of their income over the next decade to drive capital into the banking system in order to help these communities.