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  • FS Investments takes its poverty-fighting work nationwide

    Philadelphia Financial Scholars is bringing financial literacy to students and their families as well. Students are taught about credit scores, bank accounts, and budgets, as well as entrepreneurial skills through an experience that could culminate in a $1,000 prize and help starting a business if it wins. Adults are invited to come in on weekends and weeknights to learn the same curriculum. Local companies have financed the program which strives to take the first steps towards bridging the racial wealth gap.

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  • Philly Families Are Taking Charge of Their Own Food Security

    In 2014, the community organization Asociación Puertorriqueños en Marcha piloted a community-based Food Buying Club in Philadelphia. This initiative allowed local residents to buy food in bulk at wholesale prices. The goal was to strengthen food security and combat the lack of affordable and nutritious food in their neighborhood. Despite distributing over 62,000 pounds of fresh produce, the program shut down due to financial reasons. Now, after forming an advisory council and working on their business strategy with others in the community, the club is reopening and is looking to expand across the city.

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  • Nyamagabe: With a fund from Government of more than Rwf 1.2 billion for this year, stunting is being reduced

    A comprehensive initiative to reduce stunting in children caused by malnutrition and poverty is seeing positive results in Rwanda. The government has provided food, frequent health assessments, and has also encouraged families to plant vegetable gardens.

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  • Sew it goes: The Sewing Machine Project stitches lives back together

    The Sewing Machine Project has helped thousands of people who rely on sewing as a livelihood. The organization refurbishes used sewing machines and sends them across the world. For some recipients, access to their own sewing machine can result in economic mobility and an improved quality of life.

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  • Finance: How thrift collectors are rescuing low income earners

    The practice of “Esusu” serves to provide a way of saving money for those who do not have access to bank accounts. In this system, each contributor agrees to save a set amount for a limited amount of time and “withdraws” their savings at the end of that time period, paying a small fee to the collector. This informal banking practice is a flourishing business in Nigeria.

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  • Teton County Library feeling fine after eliminating late fees

    Teton County in Wyoming is implementing a new "fine free" system at community libraries, and anecdotal results show it's been successful. Eliminating fines is a way for the library to address the root cause of people not accessing the resources they often need the most due to accrued fines. Instead, the library will simply freeze patrons' accounts if they have an overdue book, and have longer grace period for returns.

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  • This Federal Program to Aid Restaurants and Street Vendors Is Working

    In just its first few weeks of existence, the U.S. Small Business Administration's Restaurant Revitalization Fund approved more than $6 billion in aid to 38,000 restaurants and other food vendors suffering economically from pandemic shutdowns. The aid program's rollout was more effective than the Paycheck Protection Program in 2020, in that it successfully targeted businesses owned by women, veterans, and "socially or economically disadvantaged people." It was helped in outreach to businesses by organizations such as Mission Economic Development Agency and New York's Street Vendor Project.

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  • In Nashville, Using Loan Guarantees to Fund Affordable Housing Preservation

    Urban Housing Solutions, a Nashville nonprofit housing developer, made a $19.2 million investment to preserve 165 apartments for people earning in the mid-30s. In a tight and expensive housing market where aggressive investors often outflank nonprofits seeking to provide lower-cost housing, UHS financed the purchase with a bank loan that will earn the lender state tax credits and that was secured by four philanthropic foundations' funds as collateral. The transaction was a first in Nashville for the use of community investment tools to preserve lower-cost housing.

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  • These co-op restaurants didn't need to open indoor dining to survive the pandemic

    Two Baltimore restaurants, Red Emma's and Joe Squared, show how running or starting as worker-owned cooperatives gave them pandemic-survival skills in a business climate that killed many other small businesses. By tapping into larger networks providing financing on favorable terms and other expertise, these co-ops used their workers' ingenuity to offer services that didn't depend on sit-down dining. Like many co-ops, they were able to survive the pandemic and preserve jobs where so many traditionally run businesses were not.

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  • San Francisco's Filipino Cultural District Keeping Hope Alive After a Tough Year

    “UNDSCVRD SF," funded by the SOMA Community Stabilization Fund and produced by the nonprofit Kultivate Labs, is a night market held once a month from July to November that features a range of Filipino vendors. There were over 35,000 attendees in 2019 and it generated $300,000 in sales. It also serves as a testing ground to select businesses for Kultivate Labs’ SEED Accelerator Program and grantees for the SOMA Fund. The former provides bootcamps and one-on-one support for Filipino-owned businesses that are located in, or would like to be located in, a permanent space within the SOMA cultural district.

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