First Community Capital helps small businesses, underserved communities in Inland Empire
By Greg Archer | Contributing Columnist Financial intuitions are not immune to economic challenges, however, this organization is seeing an upswing. As a recent recipient of a grant from the Black Equity Fund through the Inland Empire Community Foundation, First Community Capital in Riverside now has an opportunity to expand and continue offering its services with more ease. The organization provides loans to small businesses and underserved communities, mostly low-income individuals, and entrepreneurs, but Founder Member, President and CEO, T. Jay Diallo, shares details about a recent hurdle the organization faced. “We have been struggling with the technical aspect related to the front-end underwriting process,” Diallo said. “We did not have the capital to address that, but because of this grant, now we’re getting closer to getting a technology that would allow us to process our loans online, so customers don’t have to fill out paperwork. “Everything can be done online — from origination, all the way to closing of the loan,” he said. The organization places a strong emphasis on businesses owned by BIPOC individuals, including women, veterans, refugees, immigrants, and those impacted by