As National Black Business Month comes to a close, the spotlight is on the future of Black-led banks in the United States. With $8 billion in assets, these financial institutions play a crucial role in supporting small businesses and communities in need.
John Lewis, CEO of The Harbor Bank of Maryland, recently sat down with Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss the state of banking and small businesses. The conversation shed light on the challenges and opportunities facing Black-led banks in today’s financial landscape.
One of the key takeaways from the discussion was the importance of fostering partnerships and collaboration within the banking industry. By working together with other financial institutions and organizations, Black-led banks can expand their reach and impact on underserved communities.
Another point of focus was the need for innovative solutions to address the unique needs of small businesses. From access to capital to financial education, Black-led banks have a crucial role to play in supporting entrepreneurship and economic growth.
Looking ahead, the future of Black-led banks in the U.S. holds promise. With a growing focus on diversity and inclusion in the financial sector, these institutions are well-positioned to make a positive impact on the lives of individuals and communities across the country.
As we celebrate National Black Business Month, it’s important to recognize the valuable contributions of Black-led banks and support their continued growth and success. By working together to promote financial empowerment and economic opportunity, we can build a more equitable and prosperous future for all.
Watch the video by Forbes
Video “With $8 billion In Assets, What Does The Future Hold For Black-led Banks In The U.S?” was uploaded on 08/04/2024 to Dailymotion Channel Forbes