The Mission-driven Organization, Seeking to Build Wealth in Underserved Communities, joins the ranks of Canva, Microsoft, SpaceX, and more
Washington, D.C. (March 8, 2022) — The NCRC Community Development Fund, Inc. (NCRC CDF) has made Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022, placing ninth in the “Small and Mighty” category.
This year’s list honors businesses that are making the biggest impact on their industries and culture as a whole—ultimately thriving in today’s ever-changing world. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. In addition to the World’s 50 Most Innovative Companies, 528 organizations are recognized across 52 categories.
The pandemic impact has been acutely felt by Black-, Latino- and Woman-owned businesses, and NCRC CDF rose to the challenge, flexing its muscle by deploying $17 million in grants, PPP loans, low-interest rate capital, and small business investments at a time when these entrepreneurs needed it most.
“Last year, 87% of our small business loans went to Black and Latino entrepreneurs, nearly 50% of whom are women,” said Marisa Calderon, Executive Director for NCRC CDF & Chief of Community Finance & Mobility for the National Community Reinvestment Coalition (NCRC). “We’re not just mission-driven, we are passionately focused on helping entrepreneurs thrive. Our approach is to find a way to get to yes, and our support for entrepreneurs goes beyond financing to business coaching, building their social capital, and amplifying awareness of their business through communications and marketing efforts.”
The NCRC CDF team is “small and mighty,” and its diversity is a competitive advantage. It has intentionally built a team with the language capabilities, technical skills, and cultural competencies that truly reflect and meet the needs of its borrowers.
“NCRC has worked for three decades to fight for a just economy, and the NCRC Community Development Fund plays an important role in that mission – so we not only celebrate this recognition but also appreciate Fast Company drawing important attention to the power of community development financial institutions,” said NCRC President and CEO Jesse Van Tol.
Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“The world’s most innovative companies play an essential role in addressing the most pressing issues facing society, whether they’re fighting climate change by spurring decarbonization efforts, ameliorating the strain on supply chains, or helping us reconnect with one another over shared passions,” said Fast Company Deputy Editor David Lidsky.
For the second year in a row, to coincide with the issue launch, Fast Company will host its Most Innovative Companies Summit on April 26–27. The virtual, multiday summit celebrates the Most Innovative Companies in business and provides an early look at major business trends and an inside look at what it takes to innovate in 2022. Fast Company’s Most Innovative Companies issue (March/April 2022) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 15. The hashtag is #FCMostInnovative.
ABOUT NCRC CDF
The NCRC Community Development Fund, Inc. (NCRC CDF) is a U.S. Treasury certified Community Development Financial Institution (CDFI) that works to increase access to homeownership and support small businesses for underserved populations. NCRC CDF provides loan capital that expands access to affordable homeownership for people with low-to moderate incomes, and provides loan capital and technical assistance to help Black-, Brown- and
woman-owned businesses thrive. NCRC CDF is a subsidiary of the National Community Reinvestment Coalition (NCRC), a non-profit comprised of more than 600 community-based member organizations nationwide that promote access to basic banking services, affordable housing, entrepreneurship, and job creation.
For more information, please visit https://www.communitydevelopmentfund.org/.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.