CBB in the News

Black-Owned Businesses Face Challenges Accessing Capital; Community Bank of the Bay Strives to Ease Barriers

Charles Hill thought he knew banking from the inside, but as an entrepreneur he faced a series of hurdles getting loans for his business. He’s had a different experience at Community Bank of the Bay, where a mentor of his put him in contact with an African American banker. Hill has done four loans with that bank since 2016, one of which was the PPP loan that went nowhere at his previous bank.

Read more of this SF Business Times article

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Nearly 25 Years After its Founding, CBB Remains Committed to Developing Inclusive Local Economies 

By providing local businesses and non-profits a committed and resourceful financial partner, Community Bank of the Bay—California’s first CDFI Bank—continues to make a positive and sustainable impact on its community. 

Read more on the National Community Investment Fund website

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While Big Banks Prioritized Big Clients for PPP Loans, Community Bank of the Bay Looked Out for Local Businesses

The initial rollout of the Paycheck Protection Plan left small businesses worried and frustrated, locked out of applying at some large lenders, like San Francisco-based Wells Fargo. Large banks are likely prioritizing bigger companies with hundreds of employees, experts say.  Before the money ran out, credit unions and community banks stepped into the gap, saying their neighborhood connections and willingness to loan to the smallest of businesses make them perfect for this moment. 

Read more of this Mercury News article

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Socially Responsible Banks Can Make a Difference in Communities Experiencing Displacement

The Anti-Displacement Code of Conduct for Financial Institutions outlines how banks can alter policies and practices to mitigate displacement financing, while also focusing reinvestment activity into homeownership, small business ownership, and community stability. Community Bank of the Bay signed the Code of Conduct in 2018. 

Read more of this Forbes article

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Community Bank of the Bay Raises $7.7 Million for Expansion

A $7.7 million cash infusion will enable Community Bank of the Bay to broaden its footprint in the East Bay and muscle into the South Bay for the first time.

Read more of this East Bay Times article

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Community Bank of the Bay is the  First Bank to Sign Anti-Displacement Code of Conduct to Mitigate Displacement

Silicon Valley Community Foundation, Community Bank of the Bay, and the California Reinvestment Coalition announced a unique collaboration to help curb commercial lending that displaces local tenants, homeowners, small businesses, and community institutions in the Bay Area’s red hot markets. 

Read more on the California Reinvestment Coalition website

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