Cannas Capital Holdings, a national nonprofit, has announced the launch of the Bank Black Initiative, an AI operating system to develop social enterprises. The system considers disadvantages and advantages of offering provisions for diverse business owners to shrink the racial wealth gap.
The AI operating system performs comprehensive due diligence for grants, loans and investments and is designed to recognize the unique challenges faced by minority business owners.
While the operating system considers management team, payment history and collateral support, it also integrates the following:
- Community & Demographic Analysis
- Social Capital Assessment
- Institutional Support
- Risk Mitigation Strategies
- Long-Term Sustainability
- Regulatory Compliance
- Continuous Monitoring
By evaluating the above, the AI operating system encompasses the full spectrum of the context and potential of a business, promoting fair and equitable access to resources.
Founded in 2023, Cannas Capital affects more than 5,000 lives annually through various programs and initiatives. They offer a range of programs and services for economic empowerment, including financial literacy, business credit building and small business development.
The Bank Black initiative echoes Cannas Capital’s previous social equity initiatives. From Michigan’s Social Equity Programs to the Social Equity Discount Program for commercial cannabis businesses, the Bank Black Initiative is just one project that helps achieve their mission.
For more information about Cannas Capital, visit cannascapitalholdings.com.
Contact Health & Environmental Reporter Hanna Rauworth at 317-762-7854 or follow her on Instagram at @hanna.rauworth.
