Breaking Barriers in Banking and Community Development

Breaking Barriers

Reshonda Young is the co-founder of Bank of Jabez, a Black-owned bank and community development financial institution (CDFI) in Waterloo, Iowa. She is also the director of 24/7 Black, a Black business entrepreneurship accelerated program that helps Black business owners develop and market their ideas.

Reshonda is a native of Waterloo, Iowa, and has been an active voice in advocating for pay equity, equitable healthcare, and other issues that benefit working families.

Summary:

Reshonda Young, co-founder of Bank of Jabez, joins the Breaking Barriers podcast to discuss her journey as a Black woman entrepreneur in Iowa and her mission to provide access to capital for Black business owners. She shares her experiences with discrimination in the banking industry and her fight for equitable lending practices. Reshonda also talks about the importance of diversity and inclusion in the financial sector and her plans to launch the bank in the first quarter of next year. She emphasizes the need for Black-owned businesses to have access to capital and the role of venture capital in supporting their growth. Reshonda's inspiring story and dedication to making a difference serve as a reminder to never give up on your dreams and to always strive for greatness.

Key Takeaways:

• Reshonda's four for 40 plan: four years of college for 40 years of a good job.
• Discrimination in the banking industry and the need for Black-owned banks.
• The importance of access to capital for Black business owners.
• The role of venture capital in supporting the growth of Black-owned businesses.
• The impact of Reshonda's work in advocating for equitable lending practices.

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