OUR MISSION
Amplify Equity supports community development and promotes racial and economic equity amongst low income and historically marginalized communities through character-based loans, education, and mentoring.
OUR VISION
We envision a world where every individual and community has the power to thrive, regardless of their background. By dismantling systemic barriers through character-based loans, education, and mentoring, we aim to foster racial and economic justice, ensuring equitable access to resources. Our innovative approach empowers individuals and supports community development, guiding their journey toward sustainable growth. We are committed to creating a more just and equitable society, where equitable opportunities lead to resilient, uplifted communities.
Welcome to Amplify Equity!
Amplify Equity (AE) supports community development and promotes racial and economic equity amongst low-income and historically marginalized communities through character-based loans, education, and mentoring. AE seeks to reduce barriers to entry for entrepreneurs and support those excluded from traditional lending due to situational and systemic barriers. By pushing back on harmful and discriminatory practices, we envision a better model for equitable access to capital. By pushing back on systems rooted in oppression, we seek to amplify racial and economic justice.
We believe that everyone deserves an equal opportunity to start or grow a business, regardless of their financial situation or background. We recognize that marginalized communities face unique challenges and barriers to accessing the resources and support they need to operate their businesses. AE serves to bridge this gap in access to capital and business knowledge for these communities.
AE’s approach is two-pronged. The Community Loan Fund seeks to reimagine lending by focusing on character, not credit. We do not take collateral or require a down payment, nor do we base a decision on a credit score. We provide loans of up to $20,000, to be paid back within 5 years at 8% interest. There are no fees when applying for a loan, and we lower the client’s interest rate by 2% each year, as long as they keep making payments.
The Business Accelerator at The Equity Lab provides free online business courses, business mentoring, and support for enrollees as they move through the courses, and post-loan if they choose to pursue one. A rolling admission and self-paced online accessibility help mitigate barriers to entry, allowing easier access for the communities we serve.
By leveling the playing field and providing fair access to capital, education, and other resources, we can unleash the full potential of these businesses and help them succeed on their own terms. By amplifying these voices, we can lift up our communities and build a stronger, more equitable future for everyone.