American Express puts $40 million into a fund to provide loans to small business owners of color

CNBC

Helping small businesses owned by people of color, immigrants and women recover from the Covid pandemic is the goal of a $40 million investment American Express is making with Accion Opportunity Fund.

The loans, which started going out this week, range from $5,000 to $100,000, depending on business need. The average is expected to be around $28,000 according to forecasts from the nonprofit fund, which aims to help build a financially inclusive world.

Learn more in this CNBC piece.

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