Partners for the Common Good, in partnership with the Community Development Bankers Association, is launching the Small Business Impact at Scale Initiative. The program focuses on building the capacity of the CDFI banking sector to measure, assess, and communicate the impact of their small business lending, particularly benefitting low-income and minority communities.
The W.K. Kellogg Foundation of Battle Creek, Michigan is funding the initiative with a $500,000 grant.
With the grant, the Small Business Impact at Scale Initiative will help the CDFI banks gather information on both the quantitative and qualitative outcomes of their over $4 billion in business loans. The program will identify common business impact indicators, provide shared training and exchange of best practices, and pilot new models for efficient data collection.
“Our goal is to facilitate a cadre of CDFI banks that have the expertise and tools to capture impact and evaluate the effectiveness of their small business lending activities,” said PCG CEO Jeannine Jacokes.
Read the attached press release for more information.