via blavity.com
The Illinois Service Federal and Loan Association (ISF) is the last black-owned bank in Chicago. According to CBS Chicago, Kurt Summers, the city’s treasurer, has decided to make a momentous investment in the bank. Summers announced Monday that the city will be depositing $20 million into the black-owned institution.
At the announcement, the treasurer called this investment his department’s first step towards addressing the city’s history of segregation, something that he claims is one of the root causes of the city’s current violence. So, what will this investment mean for the city? According to Summers, the contribution will increase the number of successful black-owned businesses in Chicago.”If we’re going to be serious about supporting those communities and supporting community banks and what they do for small businesses, we have to look for opportunities like this,” he said, Business Day reports.
When going to large, national banks, Chicago’s black business owners only receive the full amount of their loan requests 47 percent of the time. White business owners receive all the money they ask for 76 percent of the time. Summers hopes that this investment will give black small business owners some place to go to find funding for their endeavors. “The community banks are often more capable of evaluating the risks of local borrowers than large remote financial institutions,” said Summers.
This is only one of the changes Chicago politicians are anticipating following the deposit. Alderman Roderick Sawyer told CBS that he believes that this investment will help resolve the issue of economic disparity in Chicago, and, ultimately, even violence. Papa Kwesi Nduom, the chairperson of the Illinois Service Federal and Loan Association, agrees with him. Nduom said the deposit will give his bank a “much-needed boost to our financial foundation, ensuring that we can strengthen the economic base of our communities and help people fulfill their dreams.”
The black-owned bank has been providing services to the black communities of the South Side of Chicago for more than 80 years.
To read more: Chicago Deposits $20M In City’s Last Black-Owned Bank | BLAVITY
article by Shenequa Golding via vibe.com
Malachai Jenkins and Roberto Smith at one point would’ve never saw eye-to-eye. Both LA natives pledged their allegiance to rival gang members, Jenkins a Crip and Smith a member of the Bloods. But after years of gang banging, Jenkins grew tired of the dangerous life.
“All money isn’t good money, Jenkins said. “[Selling drugs] worked for me for a little while until it started to get me into trouble, so I had to find something legit to do.”
Jenkins then enrolled into the famed culinary school Le Cordon Bleu, and from there things began to change. A mutual friend introduced Jenkins to Smith and the two became fast comrades. Upon finishing his courses, Jenkins, who also goes by the name Chef Spanky, began cooking meals and posting the finishing product on Instagram. Soon, people started placing orders and slowly, their catering business Trap Kitchen LA was birthed.
“The gang stuff, the shootings, now that I’m in this kitchen, I don’t go through none of that,” Smith said.
The way it works is Jenkins puts the daily menu on Instagram and people then place their orders. The men make everything from the simple and comforting chicken and waffles to the popular and more decadent $25 Pineapple Friday dish which is made up of King Crab, lobster, jumbo shrimp and salmon over white rice covered in Teriyaki Sriracha sesame seeds and green onions placed inside an actual pineapple. Whatever your stomach desires, the gentlemen of Trap Kitchen LA will serve you.
To see original article, go to: http://www.vibe.com/2016/03/rival-gang-members-trap-kitchen-la/
Malachai Jenkins and Roberto Smith at one point would’ve never saw eye-to-eye. Both LA natives pledged their allegiance to rival gang members, Jenkins a Crip and Smith a member of the Bloods. But after years of gang banging, Jenkins grew tired of the dangerous life.
“All money isn’t good money, Jenkins said. “[Selling drugs] worked for me for a little while until it started to get me into trouble, so I had to find something legit to do.”
Jenkins then enrolled into the famed culinary school Le Cordon Bleu, and from there things began to change. A mutual friend introduced Jenkins to Smith and the two became fast comrades. Upon finishing his courses, Jenkins, who also goes by the name Chef Spanky, began cooking meals and posting the finishing product on Instagram. Soon, people started placing orders and slowly, their catering business Trap Kitchen LA was birthed.
“The gang stuff, the shootings, now that I’m in this kitchen, I don’t go through none of that,” Smith said.
The way it works is Jenkins puts the daily menu on Instagram and people then place their orders. The men make everything from the simple and comforting chicken and waffles to the popular and more decadent $25 Pineapple Friday dish which is made up of King Crab, lobster, jumbo shrimp and salmon over white rice covered in Teriyaki Sriracha sesame seeds and green onions placed inside an actual pineapple. Whatever your stomach desires, the gentlemen of Trap Kitchen LA will serve you.
To see original article, go to: http://www.vibe.com/2016/03/rival-gang-members-trap-kitchen-la/
