Startups Now is the time to invest in black-owned banks

Now is the time to invest in black-owned banks

-

In the past For two weeks, millions of dollars were shuffled from bank accounts of startups and investors in the collapsed Silicon Valley Bank to the JPMorgans, Brexes, and Wises of the world. As founders and investors continue to look for new places to park their money, it is essential to view this moment as an opportunity to start banking some of the few Banks in black hands.

There is digital fearless, founded by Collin Thompson, which works exclusively with remote companies and global teams. Thompson told ukbusinessupdates.com+ that his company’s goal is to become a trusted partner to founders, especially those impacted by the SVB’s collapse.

Intrepid offers similar services to Brex, in addition to more specialized assistance, such as all-in-one HR tools. In the wake of SVB’s crash, Intrepid implemented services such as higher Federal Deposit Insurance Corporation insurance and sweep accounts. To create insurance beyond the typical $250,000 backed by the FDIC, Thompson said he is building a new deposit network product with his banking partners that will allow his company to create multiple deposit accounts within the FDIC-insured limit and give customers access. to those accounts through a single application. Intrepid also offers social resources, such as introductions and events, for those looking to grow their business network.

“Given our diverse backgrounds, this provides information about how we manage risk, what kind of clients we take on and how we serve,” said Thompson. “Our interests, experiences and character guide us, and this will influence the type of clients we attract. We believe that every client, regardless of background or identity, deserves to have a financial partner they can trust and rely on, and we are here to provide that.”

There are also physical black banks, such as Unity National Bank, currently the only black bank in the state of Texas, which has a branch in Atlanta; Liberty Bank, with offices in nine states, including Louisiana; and OneUnited, based in Massachusetts with offices in Los Angeles, Miami and Boston.

Many brick-and-mortar, black-owned banks are located in the southern US, consistent with the latest corporate migration pattern to states such as Georgia, Texas, and Florida. Although these banks don’t have many branches, they can still be important when considering financial diversification.

Shreya Christinahttp://ukbusinessupdates.com
Shreya has been with ukbusinessupdates.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider ukbusinessupdates.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Latest news

Mostbet Azərbaycan Orc Və Kazino Bonus 550 Azn Başlanğıc

Virtual Oyunlarda oyunçular oyunun müxtəlif aspektlərinə, məsələn, cümlə hesaba, vurulan qolların sayına, qalibə və s. Bu, oyunçulara mərclərini öz...

“pin Up 306 Online Casino Proloq Qeydiyyat, Bonuslar, Yuk

ContentAzərbaycanda Flag Upward Live CasinoIqtibas: Pin-up Bukmeker Kontorunun Üstünlükləri Və Mənfi CəhətləriSadiqlik Proqramı Pin Upwards – Pincoins Nədir?Pin Up...

Пин Ап Казино Официальный Сайт Pin Up Casino Онлайн

ContentElektron Cədvəl – Pinup-ın XülasəsiNəyi Tökmək Lazımdır: Saytın Mobil Versiyası Və Ya Bir Tətbiq?Etibarlılıq ProqramıPin Up: Kazino Va Rasmiy...

Лучшие Игровые Автоматы В Онлайн Казино Самые Популярные Слоты, Рейтинг 2024 незадолг

Лучшие Игровые Автоматы В Онлайн Казино Самые Популярные Слоты, Рейтинг 2024 незадолгоРейтинг Лучших Онлайн Казино 2024 года На Реальные...

такие Онлайн Казино Рейтинг Топ Казино для Игр

такие Онлайн Казино Рейтинг Топ Казино для ИгрыЛучшие Онлайн Казино 2024 ⭐топ Казино На Деньги от Casino OnlineContentКазино ОнлайнEverbet...

Mostbet-az 45 Azərbaycanda Bukmeker Və Kazino Bonus 550+250 คณะวิศวกรรมศาสตร์ มหาวิทยาลัยนครพนม

Mostbet nadir bukmeker şirkəti bahisçiləri cəlb eləmək üçün səxavətli “Sən buna layiqsən” bonus proqramı təqdim edir. Hesabı yaratdıqdan sonra...

Must read

You might also likeRELATED
Recommended to you