Tools For
Equitable
Acquisitions in
Manufacturing
A pilot program for the manufacturing sector that transfers ownership and power to people of color and other marginalized communities
What’s at stake?
Across the United States, 125,000 manufacturing firms—and the 2.6 million jobs they support—are at risk of disappearing as more and more owners reach retirement age.
So too, are the benefits that these jobs and companies provide to cities and neighborhoods: family-sustaining wages, economic multipliers, regional stability and resilience.
What is T.E.A.M.?
T.E.A.M.—Tools for Equitable Acquisitions in Manufacturing—will build the capacity of CDFIs—Community Development Financial Institutions—and other community-based lenders to become stewards of equitable transitions. Alongside our place-based lending partners, we will guide 30 companies through these transitions, as we build tools for future use and wide replication.
In 2022 we will pilot our program with select CDFIs in urban areas across a spectrum of sizes in the U.S..
Our Participants:
“CDFIs fight every day to change the exclusionary financial practices that have created the racial wealth divide in our communities,” said Gary Cunningham, President and CEO of Prosperity Now. “They play a critical role because they champion locally driven solutions and utilize lending products that make them both valuable and deeply accountable to their surrounding communities. Prosperity Now is proud to continue the work with our partners on these positive, relationship-based models that make our country and communities better places, while creating more opportunities for all families to build and sustain wealth and prosperity.”
Who should sign up to learn more:
Company owners, workers with interest in buying businesses, stakeholders and others interested in helping transitioning a business.
CDFIs or similar lenders interested in building a pipeline of transition of ownership request for transitioning businesses
Economic development boards, chambers of commerce, and local philanthropic organizations interested in bringing this concept to their community