Original publication on Shelterforce - June 23, 2021 by Miriam Axel-Lute
"Ashton says there are precious few Black business leaders of any size who do not still face disparate access to capital. (The Black Economic Development Fund) BEDF’s theory of change is different from what Ashton calls “the traditional community development thesis—only help those at the lowest part of the economic ladder.” Instead, he says, BEDF is interested in “helping the community as a whole” through increased jobs and economic development, and that means helping businesses “in the middle,” who have the ability to then hire more people and more subcontractors.
"On May 26, LISC announced that BEDF had hit its goal of $250 million and announced the fund’s first five investments—three real estate investments and two large long-term deposits to Black-owned banks.