The NFL is making good on its promise to strengthen DEI efforts within the organization.
The National Football League (NFL) has recently announced they are borrowing $78 million in loans from from a large number of Black-owned banks. The organization will work with 16 Minority Depository Institutions (MDIs), Community Development Financial Institutions (CDFIs) and minority- and women-focused banks to secure loans in partnership with Bank of America.
“The NFL is thoroughly committed to improving diversity across all aspects of the League, and that includes doing business with diverse suppliers and partners,” said Joe Siclare, Executive Vice President of Finance and League Policy at the NFL in a news release. “We are excited that this program will help enhance the reach of these institutions while investing in the local communities that they serve.”
Some of the banks include:
Adelphi Bank – Columbus, OH (MDI, Black or African American owned)
• Agility Bank, N.A. – Houston, TX (MDI, Women-owned and led)
• Asian Bank – Philadelphia, PA (MDI and CDFI, Asian or Pacific Islander American owned)
• Central Bank of Kansas City – Kansas City, MO (CDFI)
• Citizens Savings Bank and Trust Company – Nashville, TN (MDI and CDFI, Black or African American owned)
• Citizens Trust Bank – Atlanta, GA (MDI and CDFI, Black or African American owned)
“Minority-focused banks, and especially Black-owned or operated banks, are trusted community partners that are more important now than ever given the challenges we are seeing across the country in banking,” said Ashley Bell, co-founder of National Black Bank Foundation in a statement. “The NFL’s decision to look for solutions beyond Wall Street and to the centers of hope along Main Street and MLK Jr. Drives will move the needle as others follow their lead.”