$1MM Small Business Fund Investment Highlighted as one of Massachusetts 2022 Top Healthcare Stories
Jan 7, 2023
1 min read
(1/3/2023) Read the full article by the Boston Business Journal.
The effort to boost equity in the healthcare industry was recognized as one of Massachusetts' biggest healthcare stories in 2022 with the Boston Children's Hospital, Dana-Farber Cancer Institute, and BayCoast Bank investing $1 million in LISC Strategic Investment's Massachusetts Small Business Growth Fund.
The Small Business Growth Fund aims to address unmet demands in capital access for Black, Latino, and Indigenous-owned businesses based in Massachusetts. Entrepreneurs of color in Massachusetts have an unmet capital demand estimated at $574 million annually. Learn more on LISC Strategic Investment's website about the Small Business Growth Fund.
https://casinoohneausweis.com actually got me thinking about the $574 million unmet capital demand figure, which is staggering when you consider how many small healthcare-adjacent businesses run by entrepreneurs of color probably never even get to the loan application stage. Pairing hospital anchors like Boston Children's and Dana-Farber with a community lender like BayCoast seems smart, since it connects capital to neighborhoods that banks often overlook. I've watched similar funds in my own region struggle with deal flow, so the real test will be whether this $1 million actually reaches founders rather than sitting in a pipeline.
Investment in community health matters tremendously. This initiative reminds me how housing stability impacts wellbeing. So RNPL solution service frequently helps workers and small business employees secure housing near work. When communities support both health services and housing solutions, everyone thrives - proving that strategic investments in people create ripple effects far beyond balance sheets.