Black Business Month: Ally Financial Announces $30 Million Investment

Ally Financial has announced it will invest $30 million in Black founders, businesses, and communities as a part of Black Busine
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Ally Financial has announced it will invest $30 million in Black founders, businesses, and communities as a part of Black Business Month.

According to an Ally release, $5 million will be invested in the Fearless Fund, which works to increase Black representation in venture capital and support women of color. The remaining $25 million will be invested in SoLa Impact‘s Black Impact Fund to boost economic development and affordable housing within Black and Latino communities.

Diane Morais, Ally’s president of consumer and commercial, said the funding would help generations of Black entrepreneurs, investors, and leaders.

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