Community finance can close the digital divides federal programs keep leaving open

Digital infrastructure is no different from other public goods that we deem essential, but that aren’t universally provided by the market. Some of the most effective tools for closing these gaps over the long term come from community finance, not one-off federal grants. Connect Humanity was created for this purpose. Our pilot fund has deployed over $3 million, catalyzing a further $47 million in public and private capital, supporting five projects in a range of communities. Connect Humanity is building a community development loan fund to scale lending—one where funds revolve and repayments from one project fund the next so the same dollars serve community after community. A portion of the interest income generated is used to fund digital skills and device programs, ensuring residents can make the most of connectivity when it arrives. These digital adoption programs de-risk the initial investment. This is capital with inclusion built into the fund structure.

[Brian Vo is Chief Executive Officer at Connect Humanity.]