RUNWAY

RUNWAY is a social enterprise whose mission is to end the racial wealth gap for good by investing in Black entrepreneurs and strengthening the ecosystem and infrastructure that supports their businesses. RUNWAY provides holistic and repair-centered financing to a national portfolio of entrepreneurs while simultaneously shifting the practices of financial institutions and investors to create more equitable outcomes for Black communities across the United States.

RUNWAY’s “friends and family” style loan programs provide first-in funding for Black entrepreneurs – approximately 80% of them women – to start and grow their businesses. These programs provide a transparent yet rigorous pre-application and underwriting process, no collateral or personal guarantee requirements, and friendly loan terms that act like equity, helping entrepreneurs preserve cash for operations. RUNWAY’s holistic business support includes wrap-around business advising, peer-coaching circles, ongoing entrepreneurship and education, technical training, access to networks and markets, and quarterly gatherings of their communities of borrowers and investors – all grounded in deep relationship building and culturally relevant practice. RUNWAY also is developing a comprehensive curriculum, resources, and a learning management system for financial institutions to help them better serve and support Black businesses.

“The South’s violent history of free, exploitative labor is what built this nation’s economy. It is where racism and systemic oppression still have currency, and it is exactly where transformative financial practices need to be taking root.” - Jessica Norwood, Founder

In 2023 RUNWAY launched ROOTED: a 10-year initiative to invest in Black entrepreneurship, creativity, and innovation in the American South, home to the largest Black population in the country. ROOTED’s focus will be women business owners: RUNWAY anticipates ~85% of its Southern portfolio will be women. Their 10-year goal is to move $50M of integrated capital – i.e., loans, impact investments, and grants – in restorative and regenerative ways, through and with local partnerships, in an effort to dismantle systemic barriers, help Black entrepreneurs and creatives build intergenerational wealth, and create thriving entrepreneurial ecosystems throughout the region, starting with the region of Lower Alabama and rolling out in at least five cities. ROOTED will go beyond financing and business support for Black businesses, to build community-controlled economic infrastructure – for example, democratically governed loan and grantmaking funds – that will support a more inclusive, equitable, and sustainable economy in the South.