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Her fitness business did not thrive. But Francisco is helping dozens of other entrepreneurs of color overcome the same problems as the CEO. Boston Impact Initiative, non-profit fund manager. BII’s first fund has invested about $7 million with nearly 50 businesses. Francisco recently launched his second fund, aiming to raise $20 million to support entrepreneurs of color and community-run real estate. So far, BII has collected about 3 million dollars. Both of these funds are debt funds in which investors receive promissory notes rather than equity, and BII invests in startups that leverage both debt and equity. Investments in the new fund can range from $1,000 to $25,000 for ordinary people, and from $10,000 to $3 million for accredited investors and philanthropists.
The second fund will expand BII’s geographic reach beyond Greater Boston to include much of Massachusetts and other New England states.
As a founder Zoom in on Latinx, Francisco knows how important it is to have a powerful advocacy organization on your side. But advocacy can only go so far. Along with BII, Francisco said BII has financial resources to help small business owners reach critical mass. Helping them build equity often creates systemic change by bringing wealth to disadvantaged communities. It’s one of the reasons she quit her job. Compass working capital By 2021, BII will lead its founder as CEO; Deborah Freeze.
“As a leader in the Boston community talking about racial justice and how to highlight leaders of color, we’re very limited if we only have one tool,” Francisco said. “This organization gives me a different footprint that allows me to create a fund that moves capital but also advocates for change in the field.”
Her fitness lessons remind her of what BII users are up against several years ago.
“Massachusetts is very rich in resources, but it often doesn’t reach entrepreneurs or women of color,” she said. “I have a very good network connection. I know where to look. And even I had a challenging time.
A new boss brings a new name to the community and banking council
Tom Callaghan It has been on staff Massachusetts Community and Banking Council Just under a year old, and he’s shaking things up.
Callahan resigned from his longtime position Massachusetts Affordable Housing Association A year ago to become the director general of MCBC. Now controlled by a mix of bankers and activists, the council has a new name and identity. Partnership for financial equality. (The original legal name will continue, but the “Partnership” moniker will be the name the public sees.)
It is a big change for a council formed after 32 years. Federal Reserve Bank of Boston Discriminatory lending practices were found among many of Boston’s largest banks.
The Council was convened to monitor the banking community’s lending commitments and to facilitate open dialogue between activist organizations and the industry. Recently hired. Woodstock InstituteChicago think tank, to produce annual reports on loans and small business loans.
Callahan, the new name was created to emphasize the council’s mission and also to reflect the board’s decision to be more involved in public policy – weighing in on the new Community Investment Act rules, or studying the state law that needs more information for small business loans.
“’Massachusetts Community Banking Council’ is a mouthful. [and] He never said much to anybody,” Callahan said. “We as a board sat down earlier this year and said, ‘Let’s come up with a name that reflects what we’re trying to accomplish.’
The AT&T boss’s footprint just got bigger.
Names of John Now he’s got one of those promotions where he has to do the work of three-plus people. But he doesn’t seem to mind.
Emra was the president of New England, a giant telecom company based in Dallas. AT&T But now it dominates the entire Atlantic area by combining its former position and at least two others.
Emra covers the territory from rural West Virginia to the coast of Maine. He loves the diversity and influence that big cities like Boston, New York and Washington have on the world. For the southern Connecticut resident who grew up in the western suburbs of Boston, that means a lot of time on the road. The state does not include local telephone service, but does cover mobile service and fiber optic lines. He’s a familiar face in the Boston area because he leads AT&T’s philanthropic and university partnerships in the area and occasionally sneaks in a game at TD Garden or Fenway Park.
Curating such a wide range can’t be done well without some help, and Emra says he’s getting that help from some of the best colleagues in the business.
“Managing high performers is the best thing you can do as a manager,” says Emra. “It’s a blessing to be able to manage a great group of people.”
The defense industry attacked Donovan himself.
After building a career connecting defense company leaders with their government counterparts while at the law firm Nelson Mullins Riley & Scarborough, Joe Donovan He is beating himself up. The lobbyist is leaving the law firm’s Boston office to open his own firm. Donovan strategies – Above the restaurant where he got his first job as a teenager, in Randolph.
It was in then-Governor that Donovan got his whipping. Mitt RomneyAdministration with the Secretary of Economic Affairs at the time Breeding KimballTo partially protect Hanscom Air Force Base and the Natick Military Systems Center From closing in a large round base closures. Root has spent more than a decade with Nelson Mullins in South Carolina and has become an expert in the field of defense in Massachusetts. It will bring a number of clients to the new facility, including General Dynamics and electronics manufacturer SI2 Technologies.
The idea of starting his own business is always in his mind. Now, he has the skills and connections to pull it off.
Comcast is spreading some Christmas cheer on behalf of Digital Equity.
Christmas came early for many non-profit organizations Comcast Corp. Chief Diversity Officer Delilah Wilson-Scott It passed the state last month, awarding $600,000 in grants to increase digital access and equity.
Wilson-Scott was in Boston in November distributing $500,000 to 17 organizations — including Tech goes home, Senior Services of Central BostonAnd A bead. She also traveled to Springfield to deliver $100,000. Western Massachusetts Alliance for Digital Equity.
Groups are using the money to help people get internet access and digital skills.
“People are focused on affordability, but we’ve recognized for a long time that adoption is a big barrier, trust is a big barrier,” said Wilson-Scott, who serves as president of Comcast’s NBCUniversal Foundation.
The Covid-19 pandemic and the rise of remote work, telemedicine and education have highlighted the importance of online communication. Comcast’s grants are part of Project UP, a 10-year, $1 billion commitment by the Philadelphia-based telecom giant to bridge the digital divide.
“Most of us interact with it every day so in some ways we take it for granted,” Wilson-Scott said. “You can’t really be on that path to economic activity without being connected.”
Jon Chesto can be reached at jon.chesto@globe.com. Follow him on Twitter. @johnchesto. Shirley Ling is a business columnist. She can be reached at shirley.leung@globe.com.
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