The Cambridge-Somerville Black Business Network (CSBBN) hosted a free workshop to help local businesses – especially those owned by people of color – learn about and build relationships with three locally-based community banks. National evidence in the wake of the Payroll Protection Program (PPP) indicated that Black and other minority-owned businesses were far less likely to have successful applications for this crucial support, in part because of a history of discrimination from banks of all types. Topics covered during the session included building and nurturing banking relationships, managing cash flow and credit, and financial aspects of running a business. The workshop was sponsored by the Sustainable Business Network of Massachusetts and Cambridge Local First, both members of AMIBA.
Learn more about these organizations and the new Black Business Network at SBNMass.org and CambridgeLocalFirst.org