Siebert Williams Shank & Co.‘s(SWS) Clear Vision Impact Fund announced Thursday it will begin making small loans to small businesses that are either minority-owned and operated or serve underperforming communities that experienced a lack of support.
The Clear Vision impact Fund was started last year by the financial services firm and received capital commitments from Microsoft, Apple, Comcast, eBay, and Constellation Brands. Each brand has made a significant financial commitment to advance racial equity and economic opportunities.
The funds will go toward small businesses that employ, train, and serve minority and underserved communities and the people that live and work in those communities. The effort will not only help businesses in these communities thrive by partnering them with their community. It will also help by growing those businesses from the closest proximity to them outwards into other areas.
Mike Cavanagh, the chief financial officer for Comcast, said in a statement that the Clear Vision Impact Fund provided an opportunity that was too good to pass up.
“Suzanne Shank, Chris Williams, and team have created an incredible platform to provide minority-owned
businesses operating in underserved markets with immediate and much-needed capital at a
critical time,” Cavanagh said in a release. “We hope that our $25 million investment in the Clear Vision Impact Fund and ongoing great partnership with Siebert Williams Shank & Co. will have a meaningful impact on diverse communities nationwide, as our company continues to accelerate its efforts to address systemic
inequality and create a more equitable society.”
Small business owners that qualify can apply for a loan at contact@clearvisionimpact.com.
Apple Vice President and Corporate Treasurer Gary Wipfler said the Clear Vision Impact Fund will provide multiple windows of opportunity for those who have great ideas but do not have the capital to see them through.
“Providing capital to minority-owned businesses is critical to ensuring economic growth and job
opportunities for the future across communities nationwide,” Wipfler said. “Apple is proud to be part of the Clear Vision Impact Fund and support their work to address inequality by expanding access to economic
opportunity.”