Incorporated by rapper and activist Michael "Killer Mike" Render, former Atlanta mayor Andrew Young and Bounce T.V. founder Ryan Glover, GREENWOOD is an online financial platform aimed at supporting African Americans and Latino entrepreneurs, who often run into difficulties when applying for loans in conventional banks.
The online platform brings memories of 'Black Wallstreet' in the former Greenwood district of Tulsa, Oklahoma, a place of great economic prosperity ravaged by white supremacists, GREENWOOD offers checking and savings accounts, mobile deposits and wire transfers , and it has available a global network with more than 30,000 ATMs, payment services verified by Apple, Android Pay and Samsung, advances on paychecks, special credit facilities and virtual debit cards.
GREENWOOD , also has a support program for families facing hardships, where for each new customer who joins a family receives five meals as a donation. In addition, any use of the Greenwood debit card will result in a donation to the 'United Negro College Fund', Goodr and NAACP funds, as well as a $ 10,000 monthly donation to different clients, whether they may be African Americans or Latinos who own small businesses.
Just for rerefence, African Americans are twice as likely to have morgage loans denied by traditional banks - According to a study by the FDIC, in 2017, about 17% of African Americans had no bank accounts, compared with only 3% of white Americans that were in the same situation.
The platform that was born from the community to it own community, wishes to circulate the money and to put an end to the clear injustices in the financial system motivated by racial and social issues: "Before it was destroyed nearly a century ago, a dollar spent in the Greenwood district of Tulsa was went around 36 times within the area before leaving the community..." said Ryan Glover.
