The Aspen Institute and the Microfinance Impact Collaborative today announced the creation of the Entrepreneur Backed Assets (EBA) Fund, which will strengthen the capacity of community-based financial institutions to lend to small businesses in low-income communities and those owned by people of color.
The fund, which will create a secondary market for loans originated by community-based microlenders, has been launched with initial grant funding from the Citi Foundation, the Bill & Melinda Gates Foundation, and the Robert Wood Johnson Foundation. Microsoft Corporation and Woodforest National Bank are making the first capital investments in the Fund. READ MORE AT STREET INSIDER
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