As we celebrate Hispanic Heritage Month, FSC First is highlighting our meaningful collaboration with the National Association for Latino Asset Builders (NALCAB). NALCAB represents a crucial partner in our continuous pursuit to foster community development and support, and together, we work hand-in-hand to empower underrepresented and Latino communities, providing them with the resources and support they need to thrive.

NALCAB is a national membership organization with a clear mission: to help its members build assets in Latino and underserved communities. Asset building is a multifaceted process, and NALCAB’s expertise centers on equitable neighborhood development, small business development and lending, and enhancing family financial capabilities.

In a recent interview, Holly Frindell, Chief Program Officer at NALCAB, said that the organization supports its members through the four C’s: Capital, Capacity Building, Collective Voice, and Comunidad (Spanish for community). These pillars guide NALCAB’s support for its members, which includes grantmaking, lending, training, technical assistance, and leadership development programs.

Discussing equitable development, Frindell emphasized the importance of investment in small business owners and entrepreneurs, particularly in Latino and immigrant communities. NALCAB’s role is that of a conduit to capital, enabling organizations like FSC First to fulfill their missions effectively.

“NALCAB’s role is to help support organizations like FSC First who do this work on the ground,” Frindell said. “Being able to provide the resources to entrepreneurs facing different barriers ultimately helps strengthen communities.”

The collaboration between NALCAB and FSC First was initiated in 2021 through the Wells Fargo Open for Business initiative. This grant, amounting to $105,000, enabled FSC First to expand its lending reach and serve underserved entrepreneurs; it was one of the largest grants NALCAB has ever given out, according to Frindell. Additionally, NALCAB provided technical assistance, helping establish compliance, and capitalization plans.

Allocating these resources, Frindell said, allowed FSC First to expand its on-the-ground work, benefiting the NALCAB network.

“We really draw on all of the hard-fought and hard-won experiences of our members and think about what that means for our network and how to share it so that it’s not just the lessons learned here but that it benefits the whole network,” Frindell said.

NALCAB and FSC First share a common objective to counter community displacement resulting from rapid economic and societal transitions. They strive for equitable development that benefits existing community members rather than alienating them. The proactive approach of FSC First in anticipating and mitigating displacement aligns with NALCAB’s objectives.

“NALCAB sees our relationship with FSC First and our members as very reciprocal. We pride ourselves on truly listening to the needs of our members and helping to meet those needs. In return, we learn best practices that enhance our overall impact,” Frindell said.

As NALCAB and FSC First continue our partnership, we remain committed to supporting each other and understanding the needs of the Latino community. This combined dedication is the catalyst for our continued successes, helping us to scale and enrich the lives of those in underserved communities.

SUBSCRIBE TO THE FSC FIRST EMAIL NEWSLETTER

Join our mailing list to receive the latest news and important updates from the FSC First team.

You have Successfully Subscribed!