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Her fitness business was unsuccessful. But Francisco is helping dozens of entrepreneurs of color avoid similar hardships. Boston Impact Initiative, a non-profit fund manager. BII’s first fund invested approximately $7 million in approximately 50 companies. Francisco recently launched his second fund, which he hopes will raise $20 million to support entrepreneurs of color and community-managed real estate. So far, BII has raised about $3 million. Both of these funds are debt funds where investors receive promissory notes rather than stock, and BII invests both debt and equity in startups for profit. Investments in the new fund range from $1,000 to $25,000 for people with ordinary means and $10,000 to $3 million for accredited investors and charities.
The second fund will expand BII’s geographic reach, extending it beyond Greater Boston to Massachusetts as well as other New England states.
as a co-founder Amplify Latino, Francisco knows how important it is to have a strong advocacy organization by your side. But advocacy can only go so far. Francisco said BII has the financial resources to help small business owners reach critical mass. Helping them build equity can lead to systemic change by bringing wealth to often wealth-deficient communities.One of the reasons she quit her job was compass working capital Joining BII as CEO in 2021, succeeding co-founder Deborah Freeze.
“As leaders in the Boston community talking about how to spread racial justice and leaders of people of color, we are very limited if we have only one tool: advocacy,” Francisco said. “This organization gives me a very different footprint that allows me to not only move capital, but create funds to advocate for change in this area.”
The harsh lessons of her fitness venture years ago remind her of what BII beneficiaries face.
“Massachusetts is rich in resources, but it doesn’t really reach people of color or women entrepreneurs,” she said. “I’m pretty networked. I know where to look. And even I had a challenging time.”
New boss brings new name to Community & Banking Council
Tom Callahan was a staff member of Massachusetts Community & Banking Council In less than a year, he’s already shaking things up.
Callahan resigned from his long-time position, Massachusetts Affordable Housing Alliance A year ago, I was appointed Executive Director of MCBC. The council, now overseen by a mix of bankers and activists, has a new name and identity. Partnering for Financial Equity(The original legal name will continue, but the moniker “Partnership” will be the name currently given to the public.)
This is a big change for the council, which has been in existence for 32 years since the war. Federal Reserve Bank of Boston We discovered that many of Boston’s largest banks have discriminatory lending practices.
The council has been assembled to oversee the bank’s community lending commitments and to maintain an open dialogue between activist organizations and industry.recently hired Woodstock Institutea Chicago think tank that produces annual reports on mortgages and small business lending.
Callaghan said the new name was created to emphasize the council’s mission and to reflect the board’s decision to become more involved in public policy. Small Business Loan Disclosure.
“‘Massachusetts Community Banking Council’ [and] I didn’t have much to say to anyone,” Callahan said. “We said at a board meeting earlier this year, ‘Let’s come up with a name that reflects what we’re trying to achieve.'”
AT&T’s top footprint continues to grow.
John Emra He just got one of the promotions where he has to do 3 more jobs. But he doesn’t seem to care in the slightest.
Emra was president of New England, a telecommunications giant based in Dallas. AT&T But now, in a combination of his previous positions and at least two others, he oversees the entire Atlantic region.
Emra hosts a territory stretching from rural West Virginia to the coast of Maine. He likes the diversity and impact that regional metropolises such as Boston, New York and Washington have on the world. For a Southern Connecticut resident who grew up in Boston’s western suburbs, this means spending a lot of time on the move. This area does not include local phone service, but cell service and fiber optic lines are covered. He’s a familiar face around Boston, spearheading AT&T’s philanthropic efforts and partnerships with local colleges, and occasionally sneaking into TD’s gardens and Fenway games at his park.
Monitoring such a large area doesn’t work without some help. Emra says he has that support from his colleagues, some of the best in the business.
“Managing high performers is the best thing you can do as a manager,” said Emra. “It’s a blessing to manage a team of amazing people.”
Defense industry professional Donovan single-handedly attacks.
After building a career at a law firm connecting defense industry leaders with government officials, Nelson Mullins Riley & Scarborough, Joe Donovan I am launching myself. The lobbyist is looking to leave his Boston office at his law firm and open his own firm. Donovan’s strategy — at Randolph, above the restaurant space where he had his first job as a teenager.
Donovan earned his stripes by working for then-Governor Mitt Romneyadministration alongside the economic secretary at the time Ranch Kimballto partially protect Hanscom Air Force Base and the Natick Soldier System Center Prevents closing down in a massive round of base closures. He spent more than ten years with Nelson Mullins, who has South Carolina roots, and has become an expert in the Massachusetts defense sector. He has brought several clients to his new practice, including General Dynamics and his SI2 Technologies, an electronics manufacturer.
The idea of starting his own business has always been in the back of his mind, he said. Now he has the expertise and connections to pull it off.
Comcast spreads the Christmas cheer on behalf of digital equity
Christmas has come early for many nonprofits. comcast companyChief Diversity Officer Dalila Wilson-Scott traveled across the state last month, offering $600,000 in grants to increase digital access and equity.
Wilson Scott was in Boston in November handing out about $500,000 to 17 organizations. technology goes home, Central Boston Elder ServiceWhen one beadShe also made a $100,000 trek to Springfield. Western Massachusetts Alliance for Digital Equity.
The group uses money to help people access the internet and acquire digital skills.
Wilson-Scott, who is also president of the Comcast NBCUniversal Foundation, said:
The COVID-19 pandemic and the rise of remote work, telemedicine, and education have highlighted the importance of online connectivity. The Comcast grant is part of Project UP, his 10-year, $1 billion effort by the Philadelphia-based telecoms giant to bridge the digital divide.
“Most of us are connected every day, so in some ways we take it for granted,” says Wilson-Scott. “If you are not connected to the network, you will not be on your way to financial liquidity.”
Jon Chesto can be reached at jon.chesto@globe.com. follow him on twitter @John ChestShirley Leung is a business columnist. Her contact is her shirley.leung@globe.com.
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