Supporting Small Businesses as a CDFI and MDI

The banking industry is increasingly leveraging innovations in alternative data to underwrite loans for both consumers and small businesses. This can make a huge impact in communities that Minority Depository Institutions and Community Development Financial Institutions serve.In this episode, Michael Pugh, CEO of Carver Federal Savings Bank, discusses how to support small businesses better and serve communities by developing programs based on improved data analysis.Join us as Jeff and Michael discuss:

• Roles of MDIs and CDFIs in helping communities grow businesses
• The importance of capital access for underserved business owners
• Understanding the voice and perspective of members who have difficulty accessing capital

Want to learn more about how Upstart partners with credit unions? Check out this case study mentioned in the episode.