Founders' Impact Delivers Update to OCC's Project REACh and Joins Its MDI Technical Assistance Group
NEW YORK, May 18, 2021 (Newswire.com) - Following its presentation to the Office of the Comptroller of the Currency's (OCC) Project REACh Minority Depository Institutions (MDIs) Revitalization convening, Founders' Impact Inc. became a member of Project REACh's MDI Technical Assistance work group.
Founders' Impact Chief Operating Officer Tafara Jhamba, "The fantastic efforts of Project REACh, its members, and many other institutions to strengthen the balance sheets of minority-owned institutions are bearing fruit; MDIs are capitalized to an unprecedented extent. This allows Founders' Impact to focus its strategy on effective capital deployment for MDIs by developing and investing in technology partners to facilitate this. We look forward to working further with Project REACh through both its MDI Revitalization and Technical Assistance work groups."
Project REACh promotes financial inclusion through greater access to credit and capital. The project brings together leaders from the banking industry, national civil rights organizations, business, and technology to reduce specific barriers that prevent full, equal, and fair participation in the nation's economy.
Founders' Impact is a licensee of the U.S. Small Business Administration as a Specialized Small Business Investment Company (SSBIC). Founders' Impact's CEO, Zindel Zelmanovitch, stated that his company is committed to diversifying access to capital and focuses on underserved areas in Banking (MDIs), FinTech and InsurTech.
For more information about Founders' Impact Inc., please visit the company's website https://www.foundersimpact.com/.
For more information about Project REACh, https://www.occ.treas.gov/topics/consumers-and-communities/minority-outreach/project-reach.html.
Source: Founders' Impact Inc.