Black banks are disappearing. So is Black wealth.

Today, only 18 Black-owned banks remain in the United States, according to the FDIC. And only one manages assets in excess of $1 billion. This undercapitalization has severely restricted Black banks’ ability to compete and underwrite credit. 

The mission of the Black Bank Fund is to revitalize the Black banking industry in the United States by directly investing capital into existing financial institutions so they might become more competitive, more profitable, and better able to meet the needs of underserved communities of color.

With corporate and philanthropic partners, the Black Bank Fund intends to raise and invest $250 million into Black banks across the country by 2025. That investment will allow Black banks to make $2.5 billion in new loans in communities of color.

Unlike initiatives to deposit large sums with Black banks, which requires the financial institution to pay interest and doesn’t necessarily allow them to lend the funds in significant quantities to communities they serve, the Black Bank Fund will purchase non-cumulative, non-voting preferred stock in existing banks. This stock purchase immediately translates into tier 1 capital, which the banks can finally deploy to Black entrepreneurs and families.

Contact us today to learn how to become part of the solution.