Apple decided to invest in It’s noteda women-led investment platform that uses technology to help diverse and underrepresented communities.
Apple is using the CNote platform to donate $25 million to disadvantaged communities in the United States. As you know, this is one of the company’s many efforts to address racial inequality across the country.
The $25 million grant is part of Apple’s Racial Equity and Justice Initiative, with the goal of addressing systemic racism and expanding capital opportunities for people of color. Additionally, this effort builds on Apple’s previous commitments to expand the range of economic responsibility for minority-owned entrepreneurs.
Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives: “We are committed to ensuring that everyone has access to the opportunity to pursue their dreams and create a shared future. We work with CNote to offer funds directly to historically scarce communities through their local financial institutions, to support equity, entrepreneurship and access. »
The money was donated to mission-oriented financial institutions in the United States. Overall, the $25 million will continue to provide access to financial and capital products and services in historically underserved markets.
These types of investments help create affordable housing and small business loans, while providing a worthwhile alternative to less affordable loans. It is not only Apple that collaborates with CNote to offer these deposits, but also Mastercard, PayPal, Netflix and others.