Ashley D. Bell - Black Bank Fund
Capitalizing Black Banks to Collaborate with the NBA
In communities of color, Black banks are often the only source for non-predatory lending. And because they practice relationship banking—a holistic system of lending that looks beyond credit scores to comprehensively understand applicants’ financial situations—they are a vital and singular lifeline for Black entrepreneurs and households, which were at once underbanked and overcharged by the mainstream financial services sector.
According to the Federal Reserve, 49 percent of American Black households were unbanked or underbanked in 2019, compared to just 15 percent of white families. It’s a function of lack of access. In this fireside chat with Ashley Bell we will discuss why he co-founded a black bank syndicate and discuss their $35 Million deal with the Atlanta Hawks.