WBL and AACF Chairperson, Ed Towns, continues his discussion on the need for regulation in the alternative business lending space
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World Business Lenders is deeply committed to ensuring that communities of color are not left behind as we work to revitalize the small business sector and as more African Americans look to entrepreneurship. Today, there are nearly one million employees working at Black or African-American owned businesses, which generate over $150 billion in receipts annually. But despite the rapid growth in African American entrepreneurship over the last fifteen years, African Americans still face barriers in accessing capital to start or grow their businesses.
The African American Chamber Fund will provide African-American entrepreneurs with the ability help their businesses and their communities grow. As we embark on this new initiative, we will continue using our company’s self-imposed best practices approach to ensure that loans under the program are fair and transparent and that we enable more and more people to realize the American dream.