A group of Colorado businesspeople, including Zaneta Kelsey, have signed a letter urging Congress to pass two bills aimed at increasing access to capital for entrepreneurs of color. The bills, championed by the Center for American Entrepreneurship and Engine, seek to address the disparities faced by minority entrepreneurs in accessing financing. One bill proposes the creation of a new tax credit for private-sector investors who make equity investments or long-term loans to community development financial institutions. The other bill aims to raise the cap on funds organized under a section of the Investment Company Act. The Center for American Entrepreneurship, established in 2017, aims to foster a stronger, more inclusive economy. Studies have shown that minority entrepreneurs face significant barriers in obtaining financing, with white small-business owners being twice as likely to be fully approved for financing compared to Black and Hispanic owners. Additionally, Black business founders receive only about 1% of the funding allocated by venture capital investors. The proposed bills aim to promote diversity among investors and reduce barriers for entrepreneurs of color. [2d422a67]