Connect with us

Business

Citi Foundation Provides $15 Million in Support to 30 Community Development Financial Institutions Across the U.S.

Published

on

Funds Directed to Organizations Serving Small Businesses Owned by People of Color and Households Most Impacted by COVID-19

The Citi Foundation today named 30 Community Development Financial Institutions (CDFIs) that will collectively receive $15 million to support their efforts to provide small businesses with the vital resources needed to sustain their operations and support economically vulnerable households impacted by COVID-19. The CDFIs, which will each receive $500,000 in unrestricted funding, were selected through an open Request for Proposals application process based on their strong track record of serving small businesses owned by people of color and underserved individuals and communities.

“The disparate economic impacts of COVID-19 and systemic racial inequity reinforce the need for financial institutions of all sizes to work together to support communities of color in more effective ways,” said Brandee McHale, Head of Community Investing and Development and President of Citi Foundation. “By investing – and trusting – in these change agents on the frontlines, we’re helping these organizations to pivot, adjust and expand to address evolving needs and meet clients where they are.”

The $15 million fund was deployed by the Citi Foundation from initial net proceeds donated by Citi through its participation in the U.S. Small Business Administration’s Paycheck Protection Program (PPP). This funding is a component of Citi and Citi Foundation’s more than $100 million provided to date in support of COVID-19-related community relief and economic recovery efforts globally.  

“The global pandemic has exponentially increased the demand on CDFIs across the country to provide critical financial support to small businesses and communities of color,” said Calvin L. Holmes, President, Chicago Community Loan Fund. “The support from Citi Foundation is furnishing and emboldening CDFIs like ours with the flexibility we need to advance our work with these communities during a time of great crisis.”

“Citi Foundation’s funding has made it possible for us to continue our work in providing credit and services to small businesses and entrepreneurs who do not have access to loans from traditional commercial sources,” said Janie Barrera, President & CEO of LiftFund. “This latest endorsement of our work gives us the freedom and the opportunity to address local community needs without limitations.”

The following organizations have been selected to receive Citi Foundation funding:

Arizona

  • Chicanos Por La Causa: Helps individuals and families achieve self-sufficiency by providing affordable access to housing, healthcare, education, work, small business support and financing
  • Raza Development Fund: Serves low-income households and Latino communities by providing capital and technical assistance to small businesses owned by women and minorities that do not have access to traditional banking services

California

  • Access Plus Capital: Provides affordable financing and business advisory services to small businesses and entrepreneurs of color in central California who are helping to create jobs in underserved communities
  • Accion Opportunity Fund: Serves diverse entrepreneurs and communities across the country by providing affordable capital and personalized support
  • Accion Serving Southern California: Provides economic opportunity for low- to moderate-income business owners who lack access to traditional sources of credit
  • AmPac Business Capital: Finances small businesses at all stages of growth to promote economic development and job creation in low- and moderate-income communities across the Inland Empire
  • Mission Asset Fund: Helps immigrant and low-income communities to rebuild and recover with zero-interest small business loans
  • Neighborhood Partnership Housing Services: Creates innovative housing and economic solutions to help underserved small businesses grow and create more living wage jobs for low-income families
  • Pacific Coast Regional Small Business Development Corporation: Supports underserved communities by providing loans and counseling to minority small business owners

Delaware

  • True Access Capital: Educates and empowers business owners and entrepreneurs by augmenting technical expertise, increasing access to capital and stimulating business growth through Delaware and southeastern Pennsylvania

District of Columbia

  • City First Enterprises: Provides capital to Black and Latinx entrepreneurs and small business owners in the D.C. region, and works with public and corporate partners to build financial resiliency for small businesses
  • Washington Area Community Investment Fund: Increases equity and economic opportunity in underserved D.C. area communities by providing capital and advisory services to low- and moderate-income entrepreneurs

Florida

  • Capital Good Fund: Provides equitable loans to lower-income families for a variety of key needs
  • Central County Community Development Corporation: Advances business growth, as a subsidiary of the Urban League of Broward County, through the provision of flexible capital solutions and technical support for minority entrepreneurs and small businesses across Florida  

Illinois

  • Chicago Community Loan Fund: Serves small businesses owned by people of color and low-income individuals by providing grants, low-interest relief loans and technical assistance
  • IFF: Advances the recovery and long-term resiliency of nonprofit organizations in order to preserve jobs, services and assets in low-income communities across the Midwest

Maryland

  • FSC First: Provides direct loans and grants to minority-owned small businesses, including Black and Latinx small business owners 

Missouri

  • Justine PETERSEN: Provides affordable capital, loans, credit building products and financial education to minority-owned small businesses and entrepreneurs

New York

·         Accompany Capital: Provides microloans, emergency grants and one-on-one counseling to small businesses owned by refugees, immigrants and people of color, as well as low- to moderate-income individuals impacted by COVID-19

·         BOC Capital Corp: Serves Black and Latinx entrepreneurs across the NYC Metropolitan area by disbursing COVID-19 relief loans

·         Greater Jamaica Development Corporation: Serves minority entrepreneurs across Queens, NY by providing technical assistance and accessible loan products

·         Grow Brooklyn Inc.: Serves small businesses and low-income families in Brooklyn, NY through counseling, technical assistance and legal services alongside its CDFI affiliate Brooklyn Cooperative Federal Credit Union

·         Neighborhood Trust Financial Partners: Supports minority- and women-owned small businesses and low-income workers in NYC by providing financial coaching and affordable financial products in partnership with its CDFI affiliate, Neighborhood Trust Federal Credit Union

·         PathStone Enterprise Center: Provides disaster relief and recovery services to underserved and minority-owned small businesses impacted by COVID-19 and the earthquakes in Puerto Rico

·         TruFund: Serves small businesses owned by women and people of color by providing affordable, flexible financing and customized support services

South Dakota

  • Four Bands Community Fund: Delivers programming aimed at building financial capability and greater access to capital for Native Americans across the state of South Dakota
  • Lakota Funds: Provides loan capital and technical assistance for businesses owned by tribal members across the Pine Ridge Reservation 

Texas

  • LiftFund: Provides capital and services to small businesses and entrepreneurs across Texas who do not have access to loans from traditional sources
  • National Association for Latino Community Asset Builders: Serves ethnically diverse Latinx communities in 40 states, Washington D.C. and Puerto Rico to promote economic mobility, providing grants and low-cost loans to support small businesses owned by people of color
  • PeopleFund: Creates economic mobility and financial stability for underserved communities by providing access to capital, education and other resources to build small businesses

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

Business

Ontario Set to Open Newest Play Street Museum Location

Published

on

A children’s museum and indoor play area that lets imaginations wander open soon to local community 

Play Street Museum, an interactive children’s museum and indoor play area purposefully designed to encourage a young child’s sense of independence, exploration, and creativity, will be opening its newest franchise location in the coming weeks in Ontario, California. Locally owned by Teresa and Sergio Carreras, the coming location marks a key milestone in an expanding franchise program, with its first location in California. 

“We’re thrilled to bring the newest Play Street Museum to Ontario for our local community to enjoy,” shared Teresa and Sergio Carreras. “After visiting Play Street Museum with our grandchildren, we knew we had to bring a location to California, and we’re excited to share it with the community and hope it serves Inland Empire families in big ways.” 

“We’re proud empty nesters and even prouder grandparents of five wonderful grandchildren. Becoming grandparents has been one of the greatest joys of our lives. This season of life has given us the opportunity to slow down and truly savor the wonder of childhood again,” continued Carreras. “We look forward to welcoming local families, schools, and community groups to experience everything the new Play Street Museum has to offer.” 

Teresa and Sergio Carreras believe children learn best when they’re having fun and can touch, build, pretend, and explore. Every exhibit at Play Street Museum Ontario is designed to spark curiosity, creativity and confidence. Whether children are running a pretend grocery store, experimenting with simple science, creating art, or climbing into imaginative worlds, children are learning skills that will stay with them for a lifetime. “This space is not just for kids. It’s for grandparents who cherish story time in a cozy corner. For parents who light up watching their child try something new. For caregivers who treasure the laughter and togetherness of play,” shared Carreras. 

Play Street Museum offers an expansive, rotating curriculum at each location specifically designed for children under nine years of age. Everyday and every week is different at Play Street Museum, providing motivation and justification 

for a scheduled time in families’ busy calendars. Play Street Museum Ontario also offers one-of-a-kind birthday parties, complete with comprehensive themes and options for parents from “Do-It-Yourself” to “Sit Back & Relax”, in addition to special events and activities during evenings and weekends. 

In Scientific American’s article, “The Need for Pretend Play in Child Development”, Yale professor Dr. Scott Barry Kaufman summarized the last 75 years of research by declaring imaginative play as a “vital component to the normal development of a child.” By narrowing the focus of Play Street Museum and its indoor play areas to the interests and imaginations of children eight and under, young explorers discover educational exhibits and activities in a world specifically crafted just for them. The deliberate and manageable scale enables children to self-navigate throughout the children’s museum and indoor play area to engage deeply in activities about which they are most interested and passionate. This freedom reinforces independence in the child and also has the benefit of creating a more relaxed and accommodating museum experience for the caregiver. 

“Play Street Museum is thrilled to welcome and open the Ontario location soon with our incredible partners, Teresa and Sergio Carreras. As parents and grandparents, they understand the powerful impact of play and intentionally sought to bring its benefits to this part of the Ontario area. They’ve taken their passion for children, education, and play and applied it to building a dynamic, local business that will support the health and well-being of their own community,” commented Play Street Museum Founder and CEO, Courtney Muccio

Located at 910 North Haven Avenue, Suite 150, the new Ontario location makes the extensive, and well researched benefits of play easily accessible to the local community. The museum’s team of highly knowledgeable associates can provide guidance on additional opportunities to expand the play and learning, either on site or at home, from corresponding activity kits, to pottery, to slime kits, to sensory kits. Customers can also book their play time in advance in addition to schedule birthday parties or private events. 

Families and customers can visit 

https://www.ontario.playstreetmuseum.com/ to book playtime, birthday parties, field trips, and to check out special events. 

Continue Reading

Business

Sweet Success: The Inland Empire Regional Chamber of Commerce Teams with The Freaky Cookie to Elevate Local WBENC-Certified Business

Published

on

How The Freaky Cookie Grew with Chamber Support: A WBENC Success Story in the Inland Empire

At the Inland Empire Regional Chamber of Commerce (IERCC), we pride ourselves on championing business growth and recognizing the powerful stories of our members. One standout example is Sheila Cavalier, founder of The Freaky Cookie—a fun and rebellious cookie catering company she launched in 2018 alongside her son, Marcus.

What began as a direct-to-consumer venture has grown into a business-to-business powerhouse, fueled by innovation, strategy, and strong community ties. The Freaky Cookie specializes in custom-labeled, individually wrapped cookies for corporate gifts, bulk orders, and special events. Their nostalgic family recipe, dating back over 90 years, delivers both flavor and flair. As Cavalier puts it, “There’s never not a need for a large amount of cookies.”

Recognizing a unique market opportunity during the pandemic, Sheila pivoted the business model to focus on custom-branded cookies—meeting the surge in demand for individually packaged baked goods that also serve as creative marketing tools. “Corporations were tired of traditional marketing,” she recalls. “Our custom-labeled cookies became a fun, fresh alternative.”

In 2022, Sheila connected with IERCC President Edward Ornelas Jr. during the Multi-Chamber Mixer at Ontario International Airport. That meeting led to The Freaky Cookie joining IERCC, which soon opened doors to strategic partnerships and increased visibility. Through the chamber’s vast network and advocacy, Sheila has built relationships with organizations such as Bank of America, Fifth Third Bank, Top Golf, and Southwest Airlines, which featured The Freaky Cookie in their 50th Anniversary celebration at ONT.

“The IERCC has been a warm and welcoming space,” Cavalier said. “Having the chamber validate our business really means something. It’s helped us get our foot in the door with so many great companies.”

The impact has been tangible. With increased revenue and expanded operations, The Freaky Cookie is no longer just a clever name—it’s a growing force in regional commerce. As Sheila puts it, her goal now is simple but powerful: “Deliver smiles.”

Continue Reading

Business

Fire Helmet Manufacturer Helps Disabled Community find Employment

Published

on

Riverside’s Phenix Technology Leads with Inclusion, Empowering the Disabled Community Through Workforce Training and Employer Education

Written by Logan Rosselli, IEBJ Content Contributor

In the heart of Riverside, off of Chicago Avenue, a small, but mighty team has been quietly manufacturing life-saving equipment for firefighters across the world for over 50 years. Phenix Technology Inc. is an internationally recognized fire helmet manufacturer who builds their products from start to finish right here in the Inland Empire. For their great products, they’ve received numerous awards such as the Greater Riverside Chamber of Commerce’s 2025 Innovator of the Year, a 2016 “E” for Exports award from the U.S. Department of Commerce, a finalist position in the “Coolest Thing Made in California” competition and more. However, their most recent accolade doesn’t involve their products at all.

In 2024, Phenix founded the ground breaking “Opportunity for All” program to provide disabled community members with the opportunity to access career education, hands-on experience and employment opportunities through an 11 week training cohort. In this program, neurodivergent individuals wanting to find stable employment learn about standard hiring practices, writing a resume, effective interviewing and professional attire while getting on-the-job training with a partnered employer in the community. It has helped dozens of disabled community members to find a new sense of independence and achieve their full potential while helping local employers find dependable employees who bring a unique perspective to the workplace.

It’s for this program that the National Association of Workforce Development Boards (NAWB), a representative of over 570 workforce development boards across the United States, honored Phenix with the prestigious W.O. Lawton Business Leadership Award in late March.

“While we take tremendous pride in the products we make, we also believe we have a mission to create a better world through developing opportunities,” said Angel Sanchez, CEO of Phenix Technology in a statement released in early April. “Opportunity for All has helped prove that individuals who have historically been excluded from the workforce don’t just contribute — they elevate organizations. We are honored to receive this national award and grateful to the partners who have helped us make this vision a reality.”

CEO Angel Sanchez Jr. accepts the NAWB Award

CEO Angel Sanchez Jr. accepts the NAWB Award

Though “Opportunity for All” is certainly the cornerstone program for the company, Phenix’s leadership team was not satisfied to leave their mission there. Thus, in 2024, the company founded its nonprofit arm, Phenix Gateway to offer more programs and advocacy to the community. Through Phenix Gateway, the company offers workforce development workshops for individuals who don’t need the full scale of the “Opportunity for All” program, but want to improve a specific skill like resume writing or workplace social skills.

However, Phenix knows that preparing disabled people for the workforce is only one end of the equation; the workforce also has to be prepared to accept the unique skills, perspectives and challenges of the disabled community. For this reason, Phenix Gateway offers employer training workshops as well as educational materials available to businesses and the community. Training programs cover a lot of ground, ranging from assistance with optimizing interviews for people with neurodevelopmental disorders to creating sensory-friendly environments in the workplace.

In Riverside, these programs have had a huge impact on the local community. As of March 2025, Phenix’s Opportunity for All program has had over two dozen participants and 44% found stable employment through or after the program. Their one-off workforce development workshops have seen over 200 participants learn new skills and help them find employment and the nonprofit currently partners with close to 90 businesses to assist them in their endeavor to create a more inclusive workforce.

Phenix Gateway staff helps a program participant with his skills

For businesses or community members interested in learning how they can support or participate in these programs, Phenix encourages them to reach out by email to info@phenixgateway.org and to attend their First Annual Gala: Rising Together, A Phenix Gateway Celebration, on Thursday, May 15th. Tickets for this event are available at phenixgateway.org.

Continue Reading

Business Journal Newsletter



Trending