Heightened awareness of the disparities tied to race and wealth have turned public attention toward innovative, collaborative solutions that will help level the playing field. Lately, corporations have played a larger role in driving these efforts, which include Capital One’s recently announced Impact Initiative, a $200 million, multi-year commitment to spur economic growth in low- and moderate-income communities. The effort builds upon Capital One’s core mission to change banking for good, and its priorities around racial equity, affordable housing, small business support, workforce development and financial well-being.
It also reflects the financial company’s ongoing commitment to serving as an industry-leading community development (CD) lender. Since establishing its community finance line of business in 2007, Capital One has provided more than $13.2 billion in construction financing for more than 140,000 affordable housing units, creating more than 158,000 jobs. As the No. 1 CD lender nationally for the past three years, Capital