I recently talked with my co-founder, Jack Macy—okay, to be fair, we talk almost every day, but that’s beside the point—about one of our clients, Pursuit, and how fortunate we are to have worked with them for over seven years.
When we started CSTMR, we made a decision to be choosy about clients. I knew that if we were going to stay true to our mission to help people live more financially fulfilling, confident, and successful lives, we had to focus and be willing to say “no.”
We wanted to build a successful agency, but more than that, we wanted to draw a direct line between our work and making the world a better place.
I’m not trying to play the martyr or humblebrag—it means turning away some lucrative opportunities, which can be difficult in the early days of growing a business.
Thankfully, in Pursuit’s case, it’s always been an easy “yes.” As a community development financial institution (CDFI), its mandate is mission-driven, not profit-driven. They provide funding and entrepreneurial support to the heart of communities: small businesses.
At a high level, I think most people can agree that helping people whom the banking industry has historically underserved is the right thing to do (Watch The Banker on Apple TV—it’s a pleasure to watch and a powerful lesson on this issue).
Case in point, Jack reminded me that women-led startups STILL receive less than 1% of funding. He went on to share a story about how his neighborhood in a small community near Lake Tahoe had seen the benefits of a new female-owned business firsthand.
Apparently, a small business plaza had been occupied by a sleepy real estate office for years, but the office closed and remained empty. Then, a local woman opened a yoga studio in the space, and the neighborhood has flocked to her business. Jack said it has brought new life and a tangible sense of pride to the community.
It’s not “just another yoga studio.” It’s a bolt of energy into the neighborhood. And it’s creating a new space for people to gather and build connections.
Did the woman who opened that yoga studio get a loan from a CDFI? I don’t know, and neither does Jack. But the point remains: CDFIs like Pursuit play a role in looking at a community holistically, seeing where a business can add value, and providing funding where conventional lenders can’t (or won’t).
If you visit Pursuit Lending’s website, you’ll see dozens of success stories like the one I’ve shared. These types of stories get me out of bed in the morning. They’re the stories that fuel our work at CSTMR.
We’re here to see communities built up, businesses created, lives changed, and financial freedom achieved. It’s a lofty goal, and I’m so proud of ALL our clients — companies like Pursuit — who are helping regular people day in and day out.
