DBEDC is honored to be featured in a recent Forbes article on how CDFIs fill a critical gap in our economy. Huge thank you to Lenwood V. Long, Sr. and the African American Alliance of CDFI CEOs for spotlighting the vital work of CDFIs like DBEDC and ACE | Access to Capital for Entrepreneurs!
A special shoutout to our Small Business Loan Recipient Daily Living Recovery House, founded by the inspiring Phillip Reason!
Click here to read the article.
“For example, Dorchester Bay Economic Development Corporation (DBEDC) played a vital role in launching the Daily Living Recovery House by providing a $60,000 loan. The Daily Living Recovery House was founded by Phil Reason with a mission to offer a compassionate, recovery-focused environment designed to support holistic well-being and empower individuals on their journey to rebuild their lives. The loan enabled the purchase of essential furnishings, covered startup utilities and marketing. Additionally, DBEDC offered personalized guidance and support, demonstrating a deep commitment to helping him achieve long-term success.”
“DBEDC has provided $7.6 million in loans to small businesses, supporting the creation and retention of 1,330 jobs. This data affirms the essential role CDFIs play in bridging the gap left by traditional financing institutions.”
