WWW.PROFESSIONALWOMANMAG.COM PROFESSIONAL WOMAN'S MULTICULTURAL MAGAZINE
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SUPPLIER DIVERSITY
Critical Funding for Minority- and Women- Owned Businesses
C
2FO, the largest global platform for working capital, announced that it accelerated a record $1.95 billion of funding to over 1,000 minority- and xpnfo.pxofe!cvtjofttft!jo!3132-!sffdujoh!b!41!qfsdfou!jodsfbtf!jo!ejwfstf! business participation from 2020. In 2021, minority- and women-owned businesses utilized the C2FO platform to secure funding 3.2 times more than their white- and male-owned peers. This growth came as more small companies sought additional working capital to strength- fo!uifjs!obodft!bnje!job- tion, supply chain shortages and rising operational costs. These trends are consistent xjui!oejoht!gspn!tuvejft! conducted by the Federal Sftfswf!boe!puifst!xijdi! show that minority-owned businesses face greater ejgdvmuz!bddfttjoh!dsfeju-! creating short-term cash px!dibmmfohft/ To further advance its efforts to make working capital access more equitable, C2FO also rolled out multiple Opportunity Marketplaces with major global companies in 2021. Uiftf!qsphsbnt!qspwjef!fbsmz!qbznfout!boe!gvoejoh!up!rvbmjfe-!njopsjuz.!boe! xpnfo.pxofe!cvtjofttft!bu!tjhojdboumz!mpxfs!sbuft/!Opubcmf!njmftupoft!gspn! this effort include: ! A partnership with Marcus by Goldman Sachs to provide unsecured obodjoh!up!fmjhjcmf!cvtjofttft!uibu!vtf!D3GP!jo!uif!Vojufe!Tubuft!bjnt!up! hjwf!tnbmm.!boe!nfejvn.tj{fe!cvtjofttft!b!ofx-!gbtu!boe!fgdjfou!xbz!up! access working capital. ! The launch of expanded marketplaces in partnership with multiple Fortune 500 organizations, including U.S. grocer Albertsons Companies , makes bddftt!up!xpsljoh!dbqjubm!npsf!frvjubcmf!cz!qspwjejoh!gvoejoh!up!rvbmjfe-! ejwfstf.pxofe!cvtjofttft!bu!tjhojdboumz!mpxfs!sbuft/ Njopsjuz.!boe!xpnfo.pxofe!cvtjofttft!ibwf!up!hiu!fwfo!ibsefs!cfdbvtf! uifz!bsf!voefssfqsftfoufe!ps!voefsgvoefe!cz!pvs!dvssfou!obodjbm!tztufn-!tbje! Alexander "Sandy" Kemper, founder and CEO of C2FO. "This $1.95 billion is dbqjubm!uibu!pxfe!ejsfdumz!up!uifn-!fobcmjoh!uifn!up!lffq!uif!mjhiut!po-!lffq! product moving, and hire new employees. Timing is critical in this environ- ment, and we're proud of our work to get low-cost and convenient capital in the iboet!pg!ejwfstf!cvtjofttft!gbtufs-!fotvsjoh!uifjs!obodjbm!ifbmui!opx!boe!jo!uif! future." "There are so many challenges that diverse businesses face in this world. By eliminating the need to risk-underwrite their funding needs, we eliminate one of uif!nptu!tjhojdbou!jnqfejnfout!up!uifjs!bcjmjuz!up!tfdvsf!obodjoh/!Jo!b!nbkps- ity world, diverse businesses generally have a higher risk of failure. If you elim- inate that risk by simply enabling them to be paid sooner, turning their accounts receivable into cash without having to borrow, then you eliminate the excuse and need for risk-based underwriting." Kemper added. "Systemic biases have too often limited economic growth and mobility. We are taking action to address these challenges and spur meaningful change across multiple industries."
Source: C2FO
"Systemic biases have too often limited economic growth and mobility. We are taking action to address these challenges and spur meaningful change across multiple industries."
Alexander "Sandy" Kemper
Thrive together
Diversity and Inclusion are the principles that bind us together. At Alight we are committed to building a culture where; diversity is visible, valued and sustained, we drive awareness, accountability and community. This commitment extends to building upon the inclusivity and diversity of our suppliers whose business values are aligned with ours. We are actively pursuing diverse suppliers to ensure our suppliers provide competitively high-quality products and services. To learn more go to alight.com/supplier-diversity
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