Over 25 credit union participants joined last week’s briefing session to learn about the Black Entrepreneurship Loan Fund (BELF). The recording is available here (enter password mJgTXuG6).

The Fund is a partnership between the federal government, Black-led business organizations, and several financial institutions. It will provide loans up to $250,000 to Black business owners and entrepreneurs across the country. While the BELF is officially launching later this month, interested credit unions that have not already signed up for the program will have the opportunity to participate in phase 2 which is expected over the summer months.

The federal government is eager to maximize credit union participation in this program given the sector’s leadership in local economic development. Further program details including how to sign up will soon be circulated. In the meantime, if your credit union would like to participate, please contact our team.