Forbes Article Highlights Google Partnership with CDFIs
In a Forbes exclusive feature published September 17, Ruth Porat, CFO of Alphabet & Google, talks about Google’s support for small businesses and the company’s partnership with OFN, established this past March with the launch of the Grow with Google Small Business Fund and Google.org Grant Program.
“Systemic inequities, like the racial wealth gap create significant disadvantages for minority communities, which is why we’re so focused on providing Black, Latinx and other underserved communities with more equitable access to capital through our partnership,” Porat says in the article.
“What makes Google such a strategic first mover and different is their focus on recovery versus just short-term relief,” adds Lisa Mensah, OFN President and CEO. “It is extremely rare for a corporate Treasury to release $170 million and judge on their own that this is the kind of debt they will hold. They didn’t wait for a risk rating from S&P or to have it all guaranteed by the government or another source—Google is a trailblazer.”
Read the full article.