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SHRM makes capital commitment to fund aiming to support minority-owned businesses

The Society for Human Resource Management (SHRM) has made a capital commitment to a new fund in support of minority-owned business enterprises (MBEs).

The fund, led in partnership between Advantage Capital and the NMSDC Business Consortium Fund (BCF), brings together BCF’s 30-year history of providing access to capital to entrepreneurs of colours with Advantage Capital’s 30 years of investment expertise in highly distressed urban core and rural communities.

The mission of the fund is to close the racial wealth gap by investing in entrepreneurs of colour who are building the products and services of the future. The fund will provide flexible risk capital to support minority businesses and help them grow.

SHRM joins other organisations including US Bank, Truist Bank, Busey Bank, Midwest Bank, Midland Bank, Southern Bancorp and Altria in its support of the fund. 

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