News

Authored by Yari DeJesus
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April 2025 Economic Development Updates

April 16th, 2025 by Yari DeJesus
Social Enterprise Capital Grant – Now Accepting Applications!
The Massachusetts Executive Office of Economic Development has opened the Fiscal Year 2026 Social Enterprise Capital grant application! This grant provides funding of up to $250,000 for nonprofit employment social enterprises that create jobs and offer supportive services while selling goods and services. Funds can be used for real estate purchases, renovations, repairs, or rehabilitation.
Deadline: May 5, 2025, at 11:59 PM
Informational Webinar: April 9, 2025, at 11 AM – Register here
More Info & Apply: Social Enterprise Capital Grant Program
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Free Small Business Webinars – Register Now!
The Massachusetts State Treasury’s Small Business Initiative (SBI) team, in partnership with Bay State Savings Bank, is hosting free small business webinars this spring as part of the Small Business Empowerment Series!
Upcoming Sessions:
  • April 23, 9:00–10:15 AM: Mastering Financial Management
  • April 30, 9:00–10:15 AM: Banking Services & Securing Financing
Webinars will be in English with live interpretation in Spanish and Portuguese. Participants can also enter to win a “Coffee for a Week” prize ($35 value) courtesy of Bay State Bank!
Register & Learn More: https://bit.ly/3Rvy1bE
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MACDC at the 2025 NCRC Conference
The MACDC team had a great time at the 2025 NCRC Just Economy Conference in D.C. in March, connecting with community development leaders and exploring strategies for economic equity. Jesse Van Tol, NCRC’s President & CEO, delivered a powerful speech emphasizing the need for bold policy changes in this current political climate, increased financial accountability, and stronger investments in underserved communities. Sessions covered racial equity in banking, small business financing, and innovative community reinvestment strategies, reinforcing our mission to expand economic opportunities in Massachusetts.
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MACDC & SBA Small Business Event in Springfield – April 3, 2025 
On April 3rd, MACDC and the Massachusetts SBA hosted a Small Business Roundtable Event in Springfield MA, bringing together key partners to support entrepreneurs in Western Massachusetts.
  • MA SBA Team: Provided updates on lending programs, technical assistance, and small business support in the current political and economic climate.
  • Sarah Sargent, Valley CDC: Highlighted their CDC small business programs, success stories, and partnerships that bolster local entrepreneurship.
  • Raymond Lanza Weil, Common Capital: shared insights on CDFI initiatives, funding opportunities, and impactful collaborations that help underserved entrepreneurs succeed.
The event emphasized the power of collaboration among SBA, CDCs, and CDFIs to strengthen small business ecosystems. Thank you to all who attended and contributed to this important discussion!

Wealth Building Programs: How CDC’s are addressing the racial wealth gap

December 2nd, 2024 by Yari DeJesus
During this breakout session, attendees were able to hear from a panel of seasoned professionals using innovative programs on the ground to help close the racial wealth gap in their communities.  Courtney Brunson, Director of the Racial Wealth Gap Partnership at the Boston Foundation expanded on the current efforts made to close the racial wealth gap in their region and how people of color have historically been excluded and faced systemic barriers that have prevented them from building wealth. In addition, she shared community-based solutions like homeownership programs such as the MHP ONE+ mortgage that can help in narrowing wealth disparities. The panel also included two staff members from Urban Edge; Alia Pacombe, Director of Community Engagement was able to expand on the importance of the Family Self Sufficiency (FSS) program and how it has been a successful asset building tool for many of their residents. Robert Credle, Director of Community Programs went over various asset building programs they offer such as financial counseling, credit counseling bootcamps, first time homebuyer education and foreclosure prevention programs along with downpayment assistance offered to their residents. Lastly, Renee Taylor, Economic Opportunity Director at Somerville Community Corporation walked us through what it's like working with low-income families and how she empowers them to stay on track to reach their goals and make progress during their 1-1 financial counseling sessions.
Panelists:
Courtney Brunson, Director, Racial Wealth Gap Partnership, The Boston Foundation 
Alia Pacombe, Director of Community Engagement, Urban Edge 
Robert Credle, Director of Community Programs, Urban Edge 
Renee Taylor, Economic Opportunity Director, Somerville Community Corporation
 

MassINC and P2 Advisors Publish "Community Capital for Small Businesses"

July 11th, 2024 by Yari DeJesus

We're pleased to share the publication of MassINC and P2 Advisors' Community Capital: A Study of the CDFI and CDC Ecosystem in Massachusetts. This new study explores small business lending services provided by federally certified Community Development Finance Institutions (CDFIs) and state certified Community Development Corporations (CDCs). It outlines the rich history of community finance institutions in the Commonwealth, as well as the opportunities for (and barriers to) their expansion. The report offers a cross-sector strategy to capitalize the community finance sector and grow the impact of CDFIs and CDCs in Massachusetts.

Please click here to read the full report.

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