CNN —
Venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds when customers at Silicon Valley Bank rushed to withdraw billions of dollars last month.
As a Black woman with nearly 10 years of business experience, Hamilton knew the options for those startup founders were limited.
SVB had a reputation for servicing people from underrepresented communities like hers. Its failure has reignited concerns from industry experts about lending discrimination in the banking industry and the resulting disparities in capital for people of color.
Hamilton, the 43-year-old founder and managing partner of Backstage Capital, said that when it comes to entrepreneurs of color, “we’re already in the smaller house. We already have the rickety door and the thinner walls. And so, when a tornado comes by, we’re…
2023-04-13 16:13:04
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