Most entrepreneurs have a hard time getting loans from banks. It’s a big problem for all founders, but especially those from marginalized communities.
That’s why, several years ago, the Ewing Marion Kauffman Foundation formed its Direct Capitalization Loan Fund, which aims to expand the loan pools available to small businesses in Kansas City, Kauffman’s hometown, as well as nationally, and boost access to capital in disinvested communities.
The fund just announced its third award—a $5.3 million grant to DreamSpring, an Albuquerque-based Community Development Financial Institution (CDFI). DreamSpring also received $300,000 in funding to help it deploy the funds in Kansas City. “This partnership is aimed at helping