New name, same purpose: Mill Cities Community Investments and the Foundation for Business Equity become Nectar Community Investments

Leaders of Mill Cities Community Investments and the Foundation for Business Equity today unveiled the organization’s new name and brand: Nectar Community Investments, a community development financial institution (CDFI) and community development corporation (CDC) that provides the essential ingredients communities need to thrive. Nectar’s new name and brand identity is designed to fully capture the mission, vision and values of the organization, which aims to close the racial wealth gap through loans, investments, strategic advice and advocacy for small businesses and homeowners in Massachusetts and Rhode Island. 

“Our name might be new, but our purpose — to deploy resources to historically disinvested communities — is stronger than ever,” said Nectar Executive Director Glynn Lloyd. “Whether it’s investing in the impact of local businesses through our Business Equity Investment Fund or driving environmental justice as a participating lender in the Energy Saver Home Loan Program, we’re constantly innovating to build generational wealth. We’re proud to unite our pioneering approach under the Nectar brand.”    

Nectar was officially established in 2022, when its two legacy organizations merged. Founded in 2008 by Latinx and immigrant leaders, MCCI, as a community development financial institution, provided low-cost loan programs to bridge the capital access gap in low- to moderate-income communities and under-resourced populations in the Merrimack Valley and across Massachusetts. Established in 2017, FBE focused on accelerating the growth of businesses of color. FBE provided quality capacity building and high touch strategic advisory services through its signature program, the Business Equity Initiative (BEI), reaching more than 115 local businesses since inception and, through the most recent cohorts, helping to generate $79 million in new revenue.

The Nectar name comes from an omnipresent natural nutrient, provided by flowers and collected by pollinators. Nectar is a small yet essential ingredient to keep the world’s ecosystem humming — just like the organization’s raw materials of financial products and services boost the strengths, drive, and talents of homeowners and small business owners. This overall shift in brand identity resulted from a comprehensive process that included input from the Board of Directors, staff, community partners, funders and clients. 

“Expanding access to capital and spurring economic growth are crucial, especially in communities that have traditionally been left behind,” said The Lazu Group CEO & Founder and Nectar Board of Directors President Malia Lazu. “Throughout its history, Nectar has stayed true to those principles. I look forward to seeing how the organization continues to grow with this new identity and find new ways to achieve its mission.”  

About Nectar Community Investments

Nectar Community Investments is a community development financial institution (CDFI) and community development corporation (CDC) that provides flexible growth capital, technical assistance and strategic advisory services to small business owners and homeowners in historically disinvested communities. Our purpose is to build generational wealth to close the racial wealth gap. With our robust advice, resourced networks and capital investment, we aim to grow sustainable, thriving and diverse communities driven by equal access and opportunity. Established in 2022 through the merger of Mill Cities Community Investments and the Foundation for Business Equity, Nectar has provided $29.7 million in small business and residential loans, supporting more than 500 businesses and nearly 1,000 homeowners.