Newsletter - A Half Million Dollar Molecule - The Capital Edition
Funding is a huge challenge facing startups today.
Startup capital is a hurdle, especially for founders of color and female entrepreneurs. In fact, the Kauffman Foundation found that nationally, less than three percent of startup financing goes to female founders. Another fun fact? At least 81 percent of entrepreneurs do not access a bank loan or venture capital.
In Albuquerque, we are working to change that. These stories share why.
The Half Million Dollar Molecule.
Watch the video on K&K Skin Products
Against a lot of the odds, these sisters-in-law in Albuquerque raised over half a million dollars from a recipe they cooked up in their home kitchen. And just in the nick of time.
Credit Scores and the Status Quo.
By Robin Brulé, Nusenda Credit Union.
"These days, a credit score is as important a number as money in the bank," writes Robin Brulé. "This three-digit score determines our ability to get credit cards, mortgages, or car loans. It determines interest rates and time frames for repayment. It makes it possible to do things like start a business or go to college. And the system is far from equitable—in fact, the credit score has a big hand in perpetuating intergenerational poverty and class immobility."
Flipping the Script on Financially Oppressed Communities.
By Vanessa Roanhorse.
"Financial equity is about financial freedom to self-determine a future that is filled with opportunity and dignity. Right now, that financial autonomy is being stripped away by a variety of factors, most notably systemic oppression, predatory lending, lack of livable wages and access to capital."
Hear from Vanessa
Connecting the Dots...
City Alive's Capital Access action team meets monthly to problem solve and find ways for financial institutions to better support homegrown businesses through systems change and new programs. Co-op Capital is a key program partners collaborate on.
