Circle Foundation Supports Underserved Businesses with AI-Driven Tools
Circle, the company behind the USDC stablecoin, has made its first-ever grants to two Community Development Financial Institutions (CDFIs), Accion Opportunity Fund and Pacific Community Ventures.
The Circle Foundation awarded the grants as part of its philanthropic efforts to help small businesses in underserved communities access capital more easily. The funds will be used to develop AI-driven tools that streamline this process.
Accion Opportunity Fund, a national CDFI formed in 2020 through a merger, has deployed over $1 billion in capital to more than 4.5 million clients since inception. Over 90% of those clients come from underserved or low-to-moderate-income communities.
Pacific Community Ventures takes a geographically focused approach, concentrating its efforts in California and building a reputation for innovative lending programs.