News & Updates
Updates from the Coalition
Silicon Valley Bank Collapse Adds Urgency to Minnesota’s GroundBreak Coalition Efforts to Reimagine How Capital Flows to Black Wealth Builders
This spring, governments and financial systems around the world are responding to the collapse of Silicon Valley Bank (SVB). While the fallout will have a long-term impact on smaller and mid-size financial institutions, it is also revealing deeper issues about how capital and banking systems work, or do not work, for founders of color. That is why Sunrise Banks joined the GroundBreak Coalition along with 40 other leaders from the private, public, and philanthropic sectors to make intentional systemic changes based on input from community leaders who shared the exact same pain-points as many of the founders of color who banked with SVB.
Three Things to Know: How Minneapolis-St. Paul Can Unlock Capital for Unprecedented Black Wealth Building
GroundBreak is at an exciting inflection point, and the months ahead will be pivotal for bringing its vision into reality. Three important developments show where we are now and where we are going.
Design Sprints Uncover Innovative Capital Investment Pathways
During GroundBreak Coalition “design sprints,” work group members brainstormed innovative capital investment pathways that could close racial gaps in income and wealth for Black homeowners, renters, entrepreneurs, and commercial developers. The products that emerged from recent work group meetings will be a key foundation to the eventual capital prototypes.
Our Strategic Approach to Building BIPOC Wealth
GroundBreak believes the most effective way to ultimately improve outcomes for all residents, especially those from BIPOC communities that our systems typically exclude, is to concentrate our efforts on the aspirations of MSP residents who experience some of our region’s deepest and most persistent disparities and ensure that the outcomes of GroundBreak are realized on the ground in specific communities.
News & Ideas
News & Ideas
Program aims to close racial gap by helping prospective Black homeowners with down payments
More than $100M in projects emerge this year from diversity funds pledged after George Floyd’s death
As Congress jumpstarts climate action, states and local leaders must drive a just path forward
The Conversation with Al McFarlane
Building Wealth & Community featuring Alex West Steinman and Marion Greene
Center for Economic Inclusion
Other Coalition Updates
See GroundBreak Coalition workgroup recommendations, monthly update call recordings, and past meeting summaries.