Civic Contractor Funding Program (CCFP)
Challenge
The landscape of Kansas City is changing. Projects large and small, from the new single terminal airport to new neighborhood streetscapes and housing, are under way; contractors are rebuilding our city infrastructure to create a better community for the future and often times minority contractors are excluded from the bidding process.
Actions
Since 2016, Lead Bank has played a vital role in making sure the smallest contractors share in our community's work by establishing a one of its kind partnership with the City of Kansas City to form the Civic Contractor Funding Program (formerly known as the For Change Initiative).
The Civic Contractor Funding Program connects qualified MBE, DBE, WBE businesses bidding for KCMO contract work to critical and affordable project financing needed to perform the contract. The program provides a significant resource by providing lines of credit to small business that have been underserved by traditional lenders. This special financing process essentially creates opportunities for hard working minority contractors with municipal contracts operating in Kansas City, Missouri.
Outcomes
Lead Bank had extended almost $16 million of credit to small contractors through CCFP. The numbers suggest a brighter future for minority contractors in Kansas City and the powerful impact of the program. Lead Bank is proud of the work that we've done to fill this critical need, both as a partner to the City and as a resource for hard working minority contractors.
Also as a consequence of our commitment, Lead Bank was selected as the financing arm for minority and disadvantaged businesses working on rebuilding the KC International Airport. To date, Lead Bank has made more than $3.5 million in loans to MBE, DBE and WBE firms for this airport project.
Contact
Melissa Beltrame
Quote
I am committed to leading a values driven organization where we view our
communities with a clear set of responsibilities and human values. Our team will continue to embark upon creating inclusive banking products and be welcoming to everyone because we recognize that we must be part of a solution to eliminate the structures of racism that prevents African Americans from having full and fair access to banking. The banking industry has aided and abetted those structures; it is now our responsibility to tear them down. Lead Bank is unafraid of accepting the burden of the racism that we have inf licted and benefitted from, and unafraid of doing our work so as to shape a future that is better, more honest, for everyone in our community. Together, we will build communities that are successful for all people in them.