Published by:
Harvard Business Publishing
Length: 10 pages
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Abstract
In a once-impoverished inner city section of Chicago, South Shore Bank has combined what its owners call old-fashioned commercial banking with a progressive social agenda to transform the neighborhood, without forcing out its old residents. It designated itself a community development bank, extending credit to residents to support small business, restore community self-confidence, and reinvigorate market forces.
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Abstract
In a once-impoverished inner city section of Chicago, South Shore Bank has combined what its owners call old-fashioned commercial banking with a progressive social agenda to transform the neighborhood, without forcing out its old residents. It designated itself a community development bank, extending credit to residents to support small business, restore community self-confidence, and reinvigorate market forces.