Newsletter - How Lilia and Silvia Beat the Banks | Harvard Economist and Team Studies Albuquerque, We Have the Findings

By City Alive

October 15, 2019

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Equity: now and into the future.

Bit by bit, City Alive partners are contributing to a stronger, smarter and more connected Albuquerque. This week we feature two stories that shed light on ideas and solutions that are driving a conversation: how do we create a more equitable Albuquerque with access to opportunity for all?

How Lilia and Silvia Beat the Banks

“Banks don’t believe in food trucks,” says Lilia Avila. But that didn't stop her. Lilia and her partner Silvia were turned down for a loan over and over. She says, “All we wanted was $2,000 for a stove. But they couldn’t even give us that, or tell us why. They would only say, ‘You don’t qualify.’” That is, until a support network including Street Food Institute, Three Sisters Kitchen and Nusenda Credit Union came to support their budding business.

The Geography of Upward Mobility

Harvard's Opportunity Insights team studies Albuquerque

Why do some low-income neighborhoods demonstrate higher levels of upward mobility, while others do not? A group including leading Harvard economist Dr. Raj Chetty recently took an in-depth look at Albuquerque neighborhoods to find out which demonstrated the most potential to increase upward mobility and what we can do to improve.

Read the insights

Lee Francis featured by Living Cities

Under the #WealthInColor series by Living Cities, Lee Francis of Native Realities Publishing and Red Planet Books & Comics was featured. Our favorite quote? "As I've been terming it, the land of manana, it's Tomorrowland, right? We're people of the future."

Connecting the Dots...

Through City Alive, Albuquerque leaders commit to collaborating, sharing ideas and taking action to better support the prosperity of homegrown businesses across our city. The Co-op Capital loan program emerged and has continued to grow through City Alive. Led by Nusenda Credit Union, Co-op Capital partners with community organizations like Street Food Institute and Three Sisters Kitchen to provide underserved communities the capital they need.