User:Brehbrian/sandbox

Sector Article: Racial inequality in the United States

some citations i'd add to this are some that I've included in my Katz Memo:

- ALKON, ALISON HOPE. ENTREPRENEURSHIP AS ACTIVISM? RESISTING GENTRIFICATION IN OAKLAND, CALIFORNIA

Steven J Gold (2016) A critical race theory approach to black American entrepreneurship

[Current] Sector Article: Racial inequality in the United States
As noted in the history of the United States, there has been reinforced white supremacy that marginalizes those of color, more specifically African Americans. This is not only seen locally within public areas, but can also be seen in those that hold national power. There is less and less representation of African American leaders in the United States than they are White. The racial wealth gap essentially is composed of a private wealth management industry maintaining Whiteness to act as a barrier to prevent those of color from equal financial development. This disparity has been debated, but never disputed due to its “very real” implications it has on African Americans. Data has shown that “among racial and ethnic groups, African Americans had the highest poverty rate at 27.4%”. This disparity is especially prevalent in the lower income communities that make up a larger population of African Americans. Leading to limited opportunities in their surrounding area regarding employment, education, and resources. Accounting for these aspects, it creates a hole that traps the individuals to resort to illicit activities to survive everyday life. This creates an environment that not only provides little to no upward mobility, but traps the individuals within that environment. What makes this situation worse, is that those outside the hole can’t comprehend the struggles, so they create assumptions without providing guidance. This subtle discrimination begins to transcend when individuals begin to face the ignorance of others thru police brutality or racial profiling. This discrimination is not only seen financially but in how African Americans live their daily lives.

Home Ownership
The value of property has stifled during the history of the United States. Initially, when African Americans were still considered as slaves, they were forbidden from owning land and those that could were white Americans. As times passed, so did the access to property, allowing African Americans to purchase property within their financial needs. A prime example of how banks and organizations manipulate home ownership, is by offering predatory loans. These loans target lower income individuals, who are normally turned away from the Banks, and given lump sums on a ridiculous interest fee. These fees only provide two outcomes for individuals, either they default on their payments and lose their property or live the rest of their lives in debt. This ranges to everyday items, such as automobiles and homes which are restricted to the individuals that need it the most. Further cementing a life with no upward mobility and consistent with empowering others through the disadvantaged reality of others.

[current] Area Article: Financial Inclusion
My area for my practice Experience is focused on Financial Inclusion within the United States. During the assignment of the 'Needs Talk Assignment', I was exposed to rethink the issue my organization is actively seeking to resolve. My intended plans for this Wiki Article is to add a new section describing the Financial Inclusion within the United States with a focus on African Americans, such as the previous editors have included Microfinance initiatives within other countries.

Financial inclusion in the United States
The United States began to adopt MFI (Microfinance) ideals in the late 1980s and early 1990s. Compared to other countries, the United States was late to implement these changes, but nevertheless, once active the US had the experience of other countries to draw upon. According to the Board of Governors of the Federal Reserve System, the expansion opened a new avenue to disadvantaged communities, primarily African Americans to “expand economic opportunities and to foster community economic development”. This action is tailored to the needs of low/ moderate income entrepreneurs. One criticism of MFI in the US is that its services didn’t extend outside of providing credit, where other MFI programs overseas which “extended their offerings to deliver education, training, and other relevant services”. To address this gap, MFI non-profit organizations emerged, many focused on specific minority populations, such as African Americans, who are excluded from mainstream credit.

As seen in the Racial Inequality in the United States, the Racial Wealth gap further divides the opportunity for African Americans to receive financial support than that of a White American. This is due to the preexisting conflicts of the US that continue to remain relevant in the modern world. MFI is subliminally created to tackle the preexisting segregation that the past have instilled within the future. Although, it may be of a less extreme than it was in the past, Racial tensions continue today and limit one's growth in an ever-growing economy.

Organizations such as Main Street Launch, an Oakland, CA based Microfinance organization centered on empowering African American entrepreneurs, were able to flourish due to the value they brought to local communities. The big banks viewed Microfinance organizations as a "tax incentive," considering the money they offered these organizations was exempted by the US government. Another beneficial aspect that these MFI organizations brought, was economic prosperity to the entrepreneur and most importantly, to their local community. Through the empowerment of their local communities, MFI organizations are able to reach larger marginalized communities to support and promote upward mobility. Over the past several decades that MFI organizations have been operating within the United States, they have loaned over several billions over dollars (~15 billion) and have had a ~97% repayment rate.

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IGNORE: Sector Article: Microfinance
- “Main Street Launch.” Main Street Launch.org, www.mainstreetlaunch.org/.

- "Kiva." https://www.kiva.org/

Info to place on Article:

Racial inequality can be measured in a variety of ways, and isn't always limited to direct racist actions. One of the most prevalent ways racial inequality is present is through financial means, in which creates a sub-section of the world we live in. This sub-section is ruled by it's own rules that favor the majority rather than the minority. This minority group is constructed of lower-income communities (which tend to be primarily made up of Hispanics and African Americans within the Untied States).