We recently sat down with Keith Taylor, Executive Director of the DUCA Impact Lab, to explore how their innovative approach to impact financing in Canada is transforming access to fair banking and reshaping what financial equity looks like.
Here are the key takeaways and insights for Black entrepreneurs and business owners in our network who are committed to innovation, sustainability, and community trust.
1. Turn Community Challenges into Market Differentiation
The DUCA Impact Lab was born out of addressing exclusion. Decades ago, credit unions emerged because newcomers to Canada were denied access to mainstream banking. Today, the Lab views those same barriers not as setbacks but as opportunities to innovate.
Insight for Entrepreneurs: Center your business model around solving systemic access challenges. By creating pathways for underserved markets, you’re not only serving your community—you’re building a competitive edge that sets you apart.
2. Use Impact Financing to De-Risk Growth
The Lab specializes in impact financing in Canada, proving that lending to underserved groups can be both viable and profitable. Their focus on gathering data and building a track record is essential to shifting narratives around risk.
Insight for Entrepreneurs: When seeking funding, use data and measurable results to demonstrate your community’s reliability and potential. Success stories create confidence for investors and open doors to larger capital pools.
3. Measure Value Beyond Dollars
One of the Lab’s flagship pilots, the Escalator Loan, consolidates predatory high-cost debt into fair, cash flow-based repayment plans. The impact extends far beyond financial metrics. Borrowers reported improvements in:
Food and housing security
Mental health and family well-being
Children’s education and extracurricular access
Healthcare access (dentistry, prescriptions)
Insight for Entrepreneurs: Highlight the holistic impact of your product or service. Funders and partners are increasingly looking at non-financial outcomes as part of the business case.
4. Build with Trust and Transparency
The Escalator Loan pilot revealed that women of colour disproportionately rely on predatory lending. For these communities, the barrier is not creditworthiness—it’s trust.
Insight for Entrepreneurs: Design your services with transparency and cultural responsiveness at the core. Building trust with historically excluded communities is not just socially responsible—it’s smart business.
Collaboration and Scale: The Future of Banking Equity
The DUCA Impact Lab’s long-term goal is to shift the entire retail credit landscape in Canada, embedding equity into mainstream banking. But to achieve scale, partnerships are critical.
Call to Action for ACBN Members:
The Lab is seeking partners to:
Help identify individuals who could benefit from the Escalator Loan model.
Collaborate on scaling this program nationally, ensuring its impact reaches more communities.
Together, we can ensure that banking, credit, and capital truly serve everyone.
Watch the Full Interview
Learn more about how impact financing in Canada can unlock opportunity for your business and community. Watch our full interview with Keith Taylor here: Watch on YouTube
Learn about our ACBN Membership so we can work with you to build your business: ACBN Membership
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