Our Massachusetts campaign gets a nice mention in this Next City article on public banking as a mayoral campaign issue. Behind the need for public banks is the broader need for equitable lending, especially to BIPOC- and women-owned businesses.

Locally, Boston Indicators has documented the hurdles that entrepreneurs of color face, in their May 2020 report, The Color of the Capital Gap, written in partnership with the Coalition for an Equitable Economy, Their recommendations included a public bank, which would offer several options to increase small business lending, including loan guarantees and participation loans with other local financial institutions.

This gap is something our bill takes serious, prioritizing lending to small and medium-sized enterprises in underserved communities, as well as lending to institutions working to improve those parts of the commonwealth. We’re currently laying the groundwork for refiling in January. Make sure to scroll down and sign up for our mailing list to stay in the loop, or follow us on Twitter or Facebook.