For small businesses looking to grow, what are some of the biggest barriers in accessing capital?

Many of the entrepreneurs we serve face systemic barriers that go far beyond credit history or collateral. Racism, language access challenges, immigration status, gender bias, and limited access to fair and affordable financial products all contribute to persistent funding gaps. Capable, experienced business owners in historically disinvested communities are often denied capital because traditional financial systems were not designed with their experiences or realities in mind. As a result, entrepreneurs of color, women business owners, and low-income entrepreneurs are frequently underfunded — not because they are underprepared, but because the system itself is not equitable.

What is Nectar doing to overcome those barriers?

Nectar is committed to reimagining how capital flows to historically disinvested communities. We offer flexible, character-based lending that considers the full story of a business owner, not just their credit score or collateral. Our team provides bilingual, culturally relevant support before and after the loan, and we connect entrepreneurs with community resources that can help them succeed in reaching their goals. Our focus is not just on making loans, but on building lasting relationships and growing community wealth. 

What are the growth goals that you hear most about from entrepreneurs?

Entrepreneurs often share goals like hiring staff, acquiring equipment, building inventory, or moving from a home-based or informal setup into a storefront. Others are professionals ready to leave traditional employment and start their own ventures, or existing business owners looking to open a second location or expand their products and services to better meet customer demand. At the heart of these goals is a desire to respond to the needs of their community, grow the value of their business, and build wealth for their families. Growth is not just about revenue. It is about creating stability, sustainability, and something that can be passed down to the next generation, whether that is children, employees, or the wider community.

How do partnerships between banks and Nectar benefit clients?

Partnerships with banks and credit unions allow Nectar to expand access to capital and financial services for clients who have been historically excluded from traditional systems. Much of the capital we lend comes from these institutions, which helps us reach more entrepreneurs with flexible, community-rooted financing. 

Additionally, because Nectar does not offer deposit products, our banking partners are essential in providing clients with checking, savings, and other financial tools that support long-term business growth. We also work closely with clients to help them build strong relationships with their financial institutions, setting them up for future access to credit and financial stability. 

Finally, these partnerships go beyond funding. Many of our loan committee members are local bankers who live and work in the communities we serve. Their insight, commitment, and collaboration help ensure our clients receive support that is not only financial, but also personal and long-lasting. Together, we are building a more inclusive and equitable financial ecosystem.

What do you wish the general public knew about the role of small businesses in our communities and our economy?

Small businesses are more than places to shop or work. They are spaces of connection, care and consistency. They create environments where people feel seen, where relationships grow, and where communities can rely on one another. Especially in communities of color and immigrant neighborhoods, these businesses are a source of pride, resilience, and belonging. When you shop locally in our Gateway Cities, in places like Lawrence, Haverhill, Lynn, Salem, or Lowell, you are doing more than making a purchase. You are supporting jobs, keeping money circulating in your community, helping families build generational wealth, and contributing to a more vibrant and sustainable local economy. Small businesses give so much to our communities. Let’s keep showing up for them too.

Interested in learning more about how our residential products can help with your home? Please feel free to contact us.