The Equity in Infrastructure Project and Lendistry have announced that Lendistry has signed the Equity in Infrastructure Pledge. While most signatories are public agencies that create and maintain infrastructure, such as New York’s Metropolitan Transit Authority, the Baltimore/Washington International Airport and the Airport Minority Advisory Council (AMAC), Lendistry is the first financial institution to sign the pledge.
Currently, EIP’s coalition includes 59 CEOs of transit authorities, airports, ports, water districts, industry associations, and engineering and financial firms from across the country. The White House has directly called upon Bipartisan Infrastructure Law grantees to sign the Pledge.
The EIP’s mission is to build generational wealth and reduce the racial wealth gap by improving public infrastructure contracting practices. This will create more prime, joint venture, and equity contracting opportunities for Historically Underutilized Businesses (HUBs).
“Nationwide, infrastructure projects are creating more opportunities for underserved and undercapitalized communities to grow. But to turn those opportunities into wins, small business contractors need access to mobilization capital,” says Everett K. Sands, CEO of Lendistry. “Lendistry is proud to sign the Equity in Infrastructure Pledge, and I encourage other financial institutions to do the same so we can keep changing the lending ecosystem for the better.”
“EIP’s Coalition of the Committed is united in the belief that America does better when more people have a fair shot at the American Dream,” said EIP Co-Chair Phil Washington, who is CEO of the Denver International Airport.
“In contrast to the increasing legal attacks on statutory programs that invest in infrastructure, we represent a voluntary, CEO-level moral and ethical commitment to do the right thing that will help us continue making progress no matter what,” said EIP Co-Chair John Porcari, who served as US Deputy Secretary of Transportation.
“As industry leaders, we know that creating opportunities for Historically Underutilized Businesses increases competition and delivers more value from investments in infrastructure – for our public agencies and for the communities they serve,” said EIP Co-Chair Dorval Carter, Jr., who is President of the Chicago Transit Authority.
“We know how critical access to capital is for Historically Underutilized Businesses, so Lendistry brings especially valuable insights and support to EIP,” said EIP Co-Chair Rick Jacobs, a longtime advisor to infrastructure agencies, companies and related labor unions.
