The Aspen Institute and the Microfinance Impact Collaborative announce Entrepreneur Backed Assets (EBA) Fund funding and purchase commitments
Entrepreneur Backed Assets (EBA) Fund, launched in 2020, is designed to provide lending to small businesses in low-income communities and those owned by people of color. Additionally, it has created a secondary market for loans originated by community-based microlenders. Western Alliance Bank has committed to purchasing up to $5 million in microloans originated by community development financial institutions (CDFIs) from EBA Fund through 2022.
Western Alliance Bank SVP and CRA Director, Barbara Boone, was recently quoted in an Aspen Institute article supporting the fund by stating, "Investing in microloans to entrepreneurial businesses in key communities is another way Western Alliance Bank works to support economic vitality at every level. We want to put our muscle behind this important effort that makes capital available to growing minority- and women-owned small businesses to help forward their sizable impact on jobs and wealth creation.”
For more information, read the full Aspen Institute article here.
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Western Alliance Bank
With more than $70 billion in assets, Western Alliance Bancorporation is one of the country’s top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2023 by American Banker and Bank Director and receiving #1 rankings on Institutional Investor's All-America Executive Team Midcap 2023-2024 for Best CEO, Best CFO, Best Company Board of Directors and Best Investor Relations Team. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide.
