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Incubator

An organization that helps very new or 'startup' businesses by offering advice, mentorship, and sometimes shared office space, helping them get started.

Accelerator

An organization that works with slightly more established small businesses for a set period, providing intensive mentorship, training, and helping them prepare to attract investors to grow quickly.

Underserved Communities

Areas or groups of people that historically have not had equal access to resources, opportunities, or financial services, often including rural areas or communities with many minority residents.

Small Business Act

A federal law that created the Small Business Administration (SBA) and governs many of the programs and services the SBA offers to support small businesses.

Community Development Financial Institution (CDFI)

Financial institutions dedicated to providing financial services and credit to underserved markets and populations that often lack access to conventional financing.

Minority Depository Institution (MDI)

Banks or credit unions where at least 51% of the voting stock is owned by minority individuals, or where a majority of the board of directors are minority and the community served is primarily minority.