BlackPressUSA

State May Scale Down Its New Home Loan Program Designed to Assist First-Time Homebuyers

Published

4 years ago

April 3, 2023

BlackPressUSA Newswire

By Alejandro Lazo
CalMatters

In this economy, who has enough money for a down payment on a house?

Despite a projected $25 billion budget deficit, the state of California does. At least for now.

The California Housing Finance Agency is poised to launch a scaled-down version of its new shared equity home loan program on March 27. With the Dream for All program, the state plans to provide $300 million worth of down payments for an estimated 2,300 first-time homebuyers.

The complicated program involves the state paying some or all of the upfront costs for buying a home — the down payment, for instance — in exchange for a share in the home’s value when it is sold, refinanced or transferred.

If the home appreciates in value, those gains to the state would then be used to fund the next borrowers — a little for the seller; a little for the next aspiring buyer.

Everybody wins — as long as prices go up.

The trouble is that home prices have been declining in the state for months, even as higher mortgage interest rates have made monthly mortgage payments more expensive.

A potential economic downturn looms as well, as the Federal Reserve weighs raising borrowing costs even further as soon as today.

And California’s tech industry is taking a beating and laying off workers, contributing to a decline in personal incomes. Income taxes are the state’s biggest revenue source.

Given the uncertainty, Gov. Gavin Newsom in January proposed a significantly smaller version of the 10-year, $10 billion program originally envisioned by Senate President Pro Tem Toni Atkins, a Democrat from San Diego. In his January budget, Newsom proposed spending an initial $300 million on the program, a cut from the $500 million compromise signed last year.

Optimism and expectations

The size and scope of the Dream for All program will likely be a subject of negotiations between Newsom and the overwhelmingly Democratic Legislature this year. The governor is expected to offer a revised state spending plan and a new financial forecast in May. Lawmakers must pass a balanced budget by June 15 in order to get paid.

The proposed cut “will not impact the Administration’s commitment or timeline for implementing the program,” Newsom’s Department of Finance said in January.

In a Feb. 13 email to CalMatters, Christopher Woods, budget director for Atkins, said her office will seek more funding for the program.

“The Governor ‘proposing’ to pull back some funds has very little to do with what will actually happen,” Woods wrote to CalMatters, in response to earlier coverage of the program. “No one should expect the program to be cut, and we should all fully expect additional funds — perhaps as much as $1 billion — to be allocated in the 2023-24 Budget Act.”

“With interest rates rising, the program is needed more than ever … and there are several innovative ways to fund the program,” Woods wrote.

Woods declined to answer follow-up questions for this story.

Atkins, who championed the equity sharing program last year, has said the Dream for All program is a priority. She said in a recent statement she isn’t giving up on getting more money for it.

“Our state is about to launch a program that will help change people’s lives for the better, and make the dream of homeownership a reality,” she said. “While existing funding for the California Dream for All is a great first step, we are working to allocate additional funding in the upcoming state budget — with the ultimate goal of providing $1 billion per year — to help even more families set the foundation for building generational wealth.”

Falling equity

The uncertainty in the economy and housing market has been a subject of discussion at CalHFA for months, as officials and political appointees seek to launch a program meant to take advantage of rising home prices at the very moment home equity is falling.

State officials said buyers positioned to hold onto a property for the long-term are those best suited for the program when home prices are falling.

In a presentation to its board of directors in January, CalHFA officials also said the agency is planning for a program with a potentially “very short life cycle.”

“Having lived the dream of buying a house in Los Angeles in 1989, when the market peaked, and then selling it at a loss almost a decade later, I can appreciate that the market doesn’t always go up,” Jim Cervantes, CalHFA’s chair, said during that Jan. 19 meeting.

“Disclosures, whatever we can do to mitigate — or rather, have prospective buyers understand what they’re getting into — would be extremely valuable, because no one’s a good market timer.”

California home prices, already rising for years, saw big gains during the pandemic, as mortgage interest rates hit historic lows and families sought more space for their remote work set-ups to practice social distancing.

The median price of a previously-owned, single-family home in California, as tracked by the California Association of Realtors, increased 47% from March 2020 to May 2022, when it peaked at $900,170.

That same month the Federal Reserve, in order to tackle inflation, began its most aggressive interest rate hikes in years driving up mortgage costs for consumers.

Since May 2022, the state’s median home price has fallen 16.5% to hit $751,330 in January.

Market change

Despite the decline in home prices, monthly mortgage costs continue to make the state’s housing market more unaffordable than at nearly any point in the last 15 years, particularly for lower- and middle-class families. Only 17% of families in California could afford a median-priced single family home at the end of last year, according to the Realtors group.

Given the rapid market changes, Tiena Johnson Hall, CalHFA’s executive director, called the governor’s reductions in Dream for All funding prudent at CalHFA’s January meeting. “There’s still a lot of room for (home) values to continue to decrease, and that is what we expect to see,” she said.

In February, the state’s nonpartisan legislative analyst projected a revised $25 billion deficit in next year’s state budget. Since then, job growth nationally and in California has remained strong, except for layoffs in the tech sector.

The full details of the Dream for All program — for instance, which lenders will offer the shared equity loans to borrowers — are not yet available from CalHFA.

And loans will not be immediately available to consumers when the program launches this month. Lenders will need a month to six weeks to roll out the loans and begin marketing them to consumers, said Ellen Martin, a CalHFA official tasked with designing the program.

“We do know that there’s a lot of excitement out there,” Martin told CalMatters in a recent interview.

How it will work

Some details have been revealed in CalHFA board meetings, public hearings and a report to the state Legislature. Here are some of the program’s key components.

The loans will not be available for all Californians. Only those who earn 150% or less of the median income of others in their county qualify. Those income limits vary by county, with $300,000 being the cut-off in pricey Santa Clara and San Francisco counties, but $159,000 for many inland counties such as Fresno and Merced.
The loans will cover as much as 20% of a home purchase. Whenever a home is sold, transferred or refinanced, a borrower will owe the state the original amount the state invested, plus a percentage of the home’s increase in value. If the original loan was 20 percent of a home’s value, the seller would owe the state the original loan plus 20 percent of its increased value, though that amount would be capped at 250% of the original loan amount.
A social equity feature of the program will be included for those who earn as much as 80% of the area median income. They will get to keep more of their equity when they sell, refinance or transfer their properties than others with higher incomes. Also about 10% of the initial state funds, or $30 million, will be reserved for those lower-income borrowers.
The loans can be used to fund down payments and closing costs, including interest rate buydowns.
Given the complexity of the program, borrowers will be required to complete a homebuyer education course.

Advocates’ concerns

The complexity of the program has some consumer advocates worried.

Lisa Sitkin, a senior staff attorney with the National Housing Law Project, said it would be wise for the agency to ensure borrowers receive periodic notices about the loan’s atypical details.

“As time goes by, people tend to forget and treat it as a normal loan, and I think it is useful for people planning to be reminded,” said Sitkin, a member of a working group advising CalHFA on the program.

A proposal to sell the loans as mortgage-backed securities also has her worried. California officials are exploring the idea of pooling the shared equity loans into securities and selling them to investors, to help provide additional money for other borrowers.

Many Wall Street financial institutions bundled often poor-quality mortgage loans into securities during real estate’s boom years and sold them to major investors. But during the years of downturn, getting help to homeowners was complicated by the difficulties identifying who exactly owned these loans.

“If they are sold into private, securitized trusts there is a lack of transparency about who owns your debt, and a lack of information about options if there are problems,” Sitkins said. “I really want to be sure that there are guardrails and protections for the borrowers.”

Consumers are cautious

As CalHFA officials were designing the program last year, they held several listening sessions online, taking comments from the public. Jake Lawrence, a 41-year-old cannabis entrepreneur in Willits who also runs a nonprofit, said he liked what he heard.

“I’m very interested. The problem we face is that there’s such a flux in what’s going on,” Lawrence said. “We’re in the middle of a housing market bust, so we’re gonna watch prices tumble for a minute.”

What’s more, one of the county’s biggest industries, the marijuana trade, has been hit hard by declines in cannabis prices. “It’s beyond suffering,” Lawrence said.

Lawrence also wondered how the state will calculate equity if he makes improvements to a home.

Despite his questions, he is considering the idea.

“It doesn’t hurt my feelings to share equity with someone who invests in me,” he said of the state. “And anybody that understands any kind of financial literacy should understand an investor should be able to have their expected ROI (return on investment). For me, I have zero issue with the idea.”

Copyright © 2023 Bay City News, Inc. All rights reserved. Republication, rebroadcast or redistribution without the express written consent of Bay City News, Inc. is prohibited. Bay City News is a 24/7 news service covering the greater Bay Area.

The post State May Scale Down Its New Home Loan Program Designed to Assist First-Time Homebuyers first appeared on Post News Group. This article originally appeared in Post News Group.

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Black History

MHU Commemorates ASCORE and Anniversary of Desegregation

THE URBAN NEWS — UNC Asheville and Mars Hill University are collaborating to host a series of commemorative events marking the 65th anniversary of their desegregation. The programming honors Etta Mae Whitner Patterson and Oralene Anderson Graves Simmons, two former members of the Asheville Student Committee on Racial Equality (ASCORE) who became the first Black students at their respective institutions in 1961.

Published

21 hours ago

November 9, 2026

BlackPressUSA Newswire

Oralene Simmons (left) and Etta Whitner Patterson, two women who helped change the course of higher education in Western North Carolina.

A week of events at UNC Asheville, Mars Hill University, and downtown Asheville.

In 1961, two young women broke the color barrier to become the first African American students at two Western North Carolina colleges: Etta Mae Whitner Patterson at UNC Asheville and Oralene Anderson Graves Simmons at Mars Hill University (then Mars Hill College).

Both women were students at Asheville’s Stephens-Lee High School, where they were members of the Asheville Student Committee on Racial Equality (ASCORE). Through nonviolent protest, ASCORE led efforts to desegregate many Asheville stores and businesses.

Patterson and Simmons, who later founded the Martin Luther King Jr. Association of Asheville and Buncombe County, have since received honorary doctorates from their alma maters in recognition of their achievements and lifelong service to their communities.

To commemorate ASCORE, honor the leadership of Etta Patterson and Oralene Simmons, and mark the 65th anniversary of the desegregation of UNC Asheville and Mars Hill University, UNC Asheville’s Department of History and Mars Hill University’s Liston B. Ramsey Center for Appalachian Studies invite the public to attend “Stories of ASCORE: Lessons in Courage, Desegregation, and Community Activism.”

The program will feature two panel discussions with Drs. Patterson and Simmons, along with other former members of ASCORE. Panelists will discuss how their experiences integrating Asheville’s businesses and institutions prepared them for their college careers, professional lives, and continued community activism.

The first panel discussion will take place at 6 p.m. on Tuesday, November 10, 2026, in the Blue Ridge Room of Highsmith Union at UNC Asheville. The event will feature a presentation by Dr. Patterson and a panel discussion with Dr. Simmons, Marvin Chambers, Jesse Ray, and Al Whitesides. The panel will be moderated by Deborah Miles, retired director of the former UNC Asheville Center for Diversity Education.

This event is sponsored by UNC Asheville’s Department of History and Africana Studies Program, with generous support from King and Pam Prather. A free visitor parking permit is required for the UNC Asheville event. Please visit the university’s parking website for instructions on obtaining a permit for the evening’s program.

The second panel discussion will take place at 5 p.m. on Thursday, November 12, 2026, in the Tony and Terry Floyd Conference Center in the Mars Hill University Campus Center. The event will feature Dr. Simmons, Annette Coleman, and Elizabeth Colton. The panel will be moderated by Jonathan McCoy, professor of history at Mars Hill University.

This event is sponsored by the Liston B. Ramsey Center for Appalachian Studies, with generous support from the university’s Provost’s Office.

In addition, at 12 noon on Wednesday, November 11, 2026, in Pack Square in downtown Asheville, Mayor Esther Manheimer and the Buncombe County Commission Chair will proclaim ASCORE Day and present honors to Etta Patterson and Oralene Simmons. Holly Jones of the North Carolina Governor’s Office will also participate in the ceremony.

For more information, contact Leila Weinstein at Mars Hill University ([email protected]) or Ellen Holmes Pearson at UNC Asheville ([email protected]).

Based on reporting by The Urban News.

Black History

HBCU Love: Spelman’s Dr. Letitia Plummer Makes History as Harris County’s First Black Elected County Judge

TEXAS METRO NEWS — Former Houston City Council member Dr. Letitia Plummer has made history as the first Black person elected to serve as the Harris County Judge. The Spelman College alumna defeated Republican Orlando Sanchez in the general election for Texas’ most populous county, receiving approximately 62% of the vote.

Published

21 hours ago

November 9, 2026

BlackPressUSA Newswire

HBCU Love: Spelman’s Dr. Letitia Plummer Makes History as Harris County’s First Black Elected County Judge

Letitia Plummer is the next Harris County judge, and the Spelman College alumna made history in Texas’ most populous county. On Tuesday night, the former Houston City Council member defeated Republican Orlando Sanchez. As a result, she becomes the first African American elected to lead Harris County.

Early unofficial results showed Plummer with about 62% of the vote to Sanchez’s 38%. Shortly after 9 p.m., Sanchez called Plummer to concede. He then asked his supporters to back her once she takes office.

The win also makes her the first Muslim elected to the post. According to the Houston Chronicle, that makes her the highest-ranking Muslim executive official in Texas history.

A Historic Night in Houston

Plummer succeeds Lina Hidalgo, who chose not to seek another term. Now, a Spelman woman takes over the top job in a county of nearly 5 million people.

In Texas, the county judge is not a courtroom role. Instead, the job leads the Commissioners Court, which runs the county’s budget, roads, flood control and public health. So the seat carries real power over daily life in the Houston region.

The general election was never especially close. However, the road to November was brutal. In the March 3 primary, Plummer finished second behind former Houston Mayor Annise Parker. Parker took about 47% to Plummer’s 37%, sending the race to a runoff.

Then Plummer flipped the script. On May 26, she beat Parker in the runoff with about 51% of the vote. From there, she turned to Sanchez and never looked back. Houston Public Media has full coverage of election night.

Letitia Plummer’s Road From Linkwood to Harris County Judge

Plummer grew up in Linkwood, a neighborhood south of Brays Bayou near Buffalo Speedway. Her family history runs deep in Houston. Her grandfather was a Tuskegee Airman flight instructor. After the war, he became the first African American investigator for the Harris County district attorney.

Her father, Matthew Plummer Jr., studied dentistry at Harvard. Later, he served in the Peace Corps, where he met her mother in Africa. Her mother brought Yemeni and Indian roots to the family. As a result, Plummer grew up in a multicultural household that shaped her outlook.

As a teen, she attended what is now DeBakey High School for Health Professions. Then she headed to Atlanta for Spelman. There, she joined Alpha Kappa Alpha Sorority, Inc.

After Spelman, she came home to Texas for dental school at Baylor College of Dentistry. Like her father, she became a dentist. She went on to own dental practices in the Houston area, including in Pearland.

From Dental Chair to City Hall

Plummer’s political career started with a 2018 run for Congress. She made the Democratic runoff in Texas’ 22nd District but lost to Sri Preston Kulkarni. Still, the campaign put her on the map.

A year later, she won Houston City Council At-Large Position 4. She took office in January 2020. In doing so, she became the first Muslim woman elected to the Council.

On the Council, she focused on police reform, food deserts and apartment inspections. She also chaired the Government Operations Committee. Notably, fellow Spelman alumna Carolyn Evans-Shabazz served alongside her on the Council.

In 2025, she launched her campaign for county judge. Then she timed her exit from the Council so the city could fill her seat during a regular election. That move saved Houston the cost of a standalone special election.

What She Ran On

Plummer pitched herself as a unifier for a Commissioners Court that has often split along party lines. She promised to build stronger working relationships among its members.

She also called for better county services and changes to the county’s Flock camera contract. In addition, she pushed back on state leaders for exerting authority over Harris County.

On election night, she spoke about her personal struggles with surrogacy. She said that experience helped inspire her decision to run.

Why Letitia Plummer’s Win Matters for Spelman

Spelman women had a big night across the country Tuesday. In New York, alumna Adrienne Adams won the lieutenant governor’s race. Now Plummer will run one of the largest counties in America.

Together, the wins show how far the Spelman network reaches in politics. Both women built careers outside government before winning office. And both broke barriers on the way up. For more on the school, check out our Spelman College coverage. You can also follow our Keisha Lance Bottoms coverage for more HBCU wins from election night.

What Comes Next

Plummer will take office in January. Between now and then, she will build her team and prepare for the county budget fight. For more on her path, the Houston Chronicle tracked her rise through a political roller coaster year.

Stay with HBCU Buzz for continued coverage of Harris County Judge-elect Letitia Plummer as she prepares to take office.

In this article:HBCU LOVE, Letitia Plummer, Spelman’s Dr. Letitia Plummer Makes History as Harris County’s First Black Elected County Judge

Based on reporting by Texas Metro News.

Black History

Jason Driver Named St. Louis Public Library CEO

ST. LOUIS AMERICAN — The St. Louis Public Library has appointed Jason Driver as its next chief executive officer following a national search. Driver, a veteran administrator with 27 years of experience, currently leads the Kitsap Regional Library in Washington and previously served in several roles at the Chicago Public Library. He is scheduled to take over the 15-location system on January 4, succeeding longtime leader Waller McGuire. The appointment follows a period of notable activity for the system and recent management discussions in Driver’s current role. Read more.

Published

21 hours ago

November 9, 2026

BlackPressUSA Newswire

Jason Driver has been named the next chief executive officer of the St. Louis Public Library. The veteran library administrator will take over Jan. 4, 2027, succeeding longtime CEO Waller McGuire. Photo courtesy of St. Louis Public Library

Jason Driver, a veteran library administrator with more than 27 years of experience, has been named the next chief executive officer of the St. Louis Public Library, taking over a 15-location system that serves more than 135,000 active cardholders.

Driver, who has led Kitsap Regional Library in the state of Washington since 2022, will begin his new position Jan. 4, succeeding Waller McGuire, who retired in October after 37 years with the St. Louis library system, including 22 years as its leader.

The appointment follows a national search and comes after the St. Louis system was named Missouri’s 2026 Library of the Year, in part for its response to the devastating May 2025 tornado. The library helped residents during the recovery, including through a tool-lending program established to assist with home repairs.

Driver told Sarah Fenske of St. Louis Magazine that he has no immediate plans to overhaul the system, which he described as a “well-oiled machine.”

“I’m a firm believer in one needing to follow before they can lead,” he said.

He plans to spend time learning from employees and the library board before deciding what changes might be needed.

Driver, a Chicago native, began his career working with young people in foster care through the Illinois Department of Children and Family Services. He later joined the Chicago Public Library, where he held positions ranging from children’s librarian and early literacy specialist to branch manager, regional director and district chief.

At Kitsap, Driver has overseen strategic planning, finances, communications and public services for a nine-branch system.

His selection follows several months of workplace controversy there, where union-represented employees questioned his management practices.

The Washington Public Employees Association raised concerns in May about communication, personnel decisions and branch closures. Union members later voted no confidence in Driver and called for his removal, according to reporting by Kitsap News Group.

A three-month independent investigation did not substantiate allegations of unlawful gender discrimination, retaliation or misconduct violating library policies. The Kitsap library board supported Driver’s continued leadership but acknowledged that communication, trust and workplace relationships needed improvement.

The board also said some employee concerns involving labor relations, collective bargaining and working conditions fell outside the investigation’s scope.

Driver told St. Louis Magazine he respected the union’s right to raise concerns and viewed the experience as an opportunity to improve communication.

“I definitely embrace the union to be able to have that pathway to speak out when there are things that they don’t agree with,” he said.

The St. Louis Public Library board independently confirmed the investigation’s findings with Kitsap trustees before hiring Driver, according to the St. Louis Business Journal.

“After a national search, the Board of Directors believes we have found in Jason an outstanding leader with the vision and experience to lead SLPL forward,” board President Nina North-Murphy said in a statement.

Driver will receive an annual salary of $240,000, the Business Journal reported.

Driver said returning to an urban library system was among the attractions of the St. Louis position. His background in social services, he said, helped prepare him to work with people from a wide range of circumstances.

“I felt like the background I had in social services really helped me to deal with some of the things we deal with in urban libraries,” he told Fenske.

He said libraries offer opportunities to serve people who might otherwise face barriers to accessing community resources.

“St. Louis is a wonderful city, it has a strong library core, and it certainly has a number of opportunities to dig in and help advance the mission and help the people of St. Louis,” Driver said.

The post Jason Driver named St. Louis Public Library CEO appeared first on St. Louis American.

Based on reporting by St. Louis American.

Black History

Superb Woman: Destiny B. Sadler

TEXAS METRO NEWS — Destiny B. Sadler is a dynamic entrepreneur and empowerment coach who serves as a Top Executive with the global beauty brand LimeLife by Alcone. A graduate of Southern University, Sadler leverages her background in leadership and community impact to mentor others on the transformative power of confidence.

Published

21 hours ago

November 9, 2026

BlackPressUSA Newswire

Destiny B. Sadler is a dynamic entrepreneur, digital creator, and empowerment coach dedicated to helping individuals look, feel, and live at their absolute best. With a background rooted in leadership and community impact, she serves as a Top Executive with the global beauty brand LimeLife by Alcone, where she mentors a growing network of beauty guides and champions the transformative power of confidence.

Driven by a passion for personal development and education, Destiny founded YSTBYOU and You’re Simply the Best Kids, an educational services organization focused on building foundational confidence and leadership skills in youth. She’s a graduate of Lamar High School and Southern University. Destiny’s life work centers on a simple, powerful philosophy: embracing who you are is the ultimate key to success.

Based on reporting by Texas Metro News.

Black Press

Campus Accountability: Universities Must Do More to Address Sexual Assault

SOUTHERN UNIVERSITY – SOUTHERNDIGEST — Colleges and universities are meant to be safe environments for learning and personal growth, yet recurring reports of sexual assault continue to challenge the effectiveness of institutional protections.

Published

21 hours ago

November 9, 2026

BlackPressUSA Newswire

Photo: iStockphoto / NNPA.

College campuses are supposed to be places where students can learn, grow and feel safe. However, reports of sexual assault at universities across the country continue to raise questions about whether institutions are doing enough to protect their students and hold individuals accountable.

From Louisiana State University to Harvard University and Cornell University, campus sexual assault cases have brought renewed attention to how colleges investigate allegations, discipline students and support survivors. For many, the concern is not only the actions of students accused of sexual misconduct but also how university administrators respond when these situations occur.

At LSU, recent reporting has raised questions about the effectiveness of the university’s Title IX process. According to WBRZ, more than 300 sexual assault reports were made through LSU’s Title IX process between 2022 and 2025, with three resulting in disciplinary action. Although not every report results in a finding of responsibility, the numbers raise important questions about how institutions communicate outcomes and address reports of misconduct.

Cornell University has also faced scrutiny following allegations involving seven students and an alleged sexual assault at a fraternity house in 2024. The university’s investigation resulted in different disciplinary actions, including expulsions and suspensions. However, questions about one student’s return to campus and housing arrangements have continued to draw criticism.

These cases highlight a larger issue: University accountability cannot stop at having a Title IX office or publishing policies in a student handbook.

Title IX prohibits sex-based discrimination in federally funded education programs and addresses sexual harassment and sexual violence. Universities must have procedures for responding to complaints, conducting investigations and providing supportive measures. However, having policies in place means little if students do not understand them or believe reports will be handled appropriately.

Students who are found responsible for sexual misconduct should face consequences that reflect the seriousness of their actions. Universities should also examine whether their investigative procedures are timely, whether survivors receive adequate support and whether disciplinary decisions are consistently enforced.

Accountability must also include university administrators. Institutions should be transparent about their procedures, provide clear reporting options and regularly review whether their policies are working.

At the same time, every student involved in a disciplinary proceeding deserves a fair investigation and an opportunity to respond to allegations. Protecting survivors and respecting due process should not be treated as competing priorities.

Ultimately, universities have a responsibility that extends beyond academics and athletics. Students deserve to know that their safety matters and that misconduct will be taken seriously. A university’s commitment to student safety should be measured not only by the policies it publishes but also by the actions it takes when those policies are tested.

Based on reporting by Southern University – SouthernDIGEST.

Black History

Alabama HBCU Founders Win Nearly $20,000 at 2026 HBCU Business Pitch Competition

BIRMINGHAM TIMES — The Alabama Collective and Digitalundivided recently awarded $20,000 in cash prizes to student and alumni founders during the 2026 HBCU Business Pitch Competition. Held at Topgolf Birmingham during Magic City Classic week, the event featured 51 participants representing 10 different Alabama institutions.

Published

22 hours ago

November 9, 2026

BlackPressUSA Newswire

Alabama HBCU Founders Win Nearly $20,000 at 2026 HBCU Business Pitch Competition

Bryson Hannah celebrates his first-place finish in the 2026 HBCU Business Pitch Competition in Birmingham, earning $5,000 for Internably LLC, his networking platform connecting college interns across the country. (Alabama A&M) ” data-large-file=”https://www.birminghamtimes.com/wp-content/uploads/2026/11/pitchbryson1edit-1024×685.jpg” />

Special to the Times

The Alabama Collective and co-host Digitalundivided awarded $20,000 in cash prizes to HBCU student and alumni founders at the 2026 HBCU Business Pitch Competition, held Thursday, October 29, at Topgolf Birmingham as part of Magic City Classic week.

Fifty-one founders representing 10 Alabama institutions competed in a booth-style format, delivering three-minute pitches with no slides or audiovisual aids, followed by three minutes of questions from a panel of industry judges. Top scorers at each booth earned $1,000 and advanced to a live Pitch Finale.

Internably, LLC, founded by Bryson Hannah of Alabama A&M University, took first place and $4,000. Internably is a networking platform that connects college students, interns, and early career professionals by company, school, city, and career interests.

“I was blown away by these innovative business ideas and the go-to-market strategies,” says Modupe Rouse, Digitalundivided Chair and Pitch Finale Judge. “These student founders took the START program skills and leveled up. I cannot wait for the economic impact of their businesses in Alabama,” added Rouse.

“What we witnessed at this year’s competition was a powerful reminder of the incredible talent, creativity, and entrepreneurial potential emerging from Alabama’s HBCUs,” said Charisse Stokes, Executive Director of The Alabama Collective. “These 51 founders didn’t just show up with ideas — they showed up with vision, determination, and the confidence to turn those ideas into businesses. We’re especially proud that this year’s partnership with Digitalundivided allowed us to expand beyond the competition itself, equipping entrepreneurs with business skills to launch their businesses, coaching, and connections that will serve them long after the prizes are awarded. Our goal is not simply to celebrate great pitches, but to help build the next generation of successful entrepreneurs and business owners across Alabama.”

“Digitalundivided is delighted to partner with TAC in its work with Alabama HBCUs and in supporting the innovation and talent of students here,” says Leah D. Williams, CEO of Digitalundivided. “These student founders are the business leaders of tomorrow. We are excited to add the Digitalundivided network lifting them up as they climb towards their future achievements.”

2026 Pitch Finale Winners

First Place, $4,000: Internably, LLC — Alabama A&M University
Second Place, $3,000: FuelTrip — Alabama A&M University
Third Place, $2,000: NexU — Alabama A&M University

Top-Scoring Booth Winners, $1,000 each

• VARA — Talladega College
• Yardly — Alabama State University
• AccessBelt — Alabama State University
• Nightshift — Talladega College
• FuelTrip — Alabama A&M University
• NexU — Alabama A&M University
• Internably, LLC — Alabama A&M University
• Mobile Therapy Office/Unlimited Potential — Alabama State University
• BeVerified — Alabama State University
• The Vent Avengers — Trenholm State Community College

A New Path to the Stage

The 2026 competition introduced two entry tracks. Members of The Alabama Collective community were invited to apply to START, Digitalundivided’s flagship pre-revenue incubator, a three-week virtual program grounded in Lean Startup methodology. Selected participants built a working Business Model Canvas, earned an automatic slot in the Round 1 pitch booths, and received a $250 completion stipend on event day. Alabama HBCU students, recent graduates, faculty and staff filled the remaining booths and brought in founders new to the organization.

Alongside the competition, the day included entrepreneurship training, small group mentoring with industry leaders, and a Lunch and Learn fireside chat.

The 2026 competition was supported by JPMorgan Chase, HBCU CARES and NEBIUS.

About The Alabama Collective

The Alabama Collective is a statewide nonprofit organization dedicated to elevating tech talent and entrepreneurs across Alabama. Through partnerships with HBCUs, industry leaders, and innovation hubs, The Alabama Collective builds programs that expose, educate, engage, and empower underrepresented communities in tech, entrepreneurship, and innovation.

About Digitalundivided

For over a decade, Digitalundivided has increased visibility and access for founders. Beginning with groundbreaking research and expanding into founder-centric training programs, strategic partnerships, and a vibrant founder community, Digitalundivided champions an equitable entrepreneurial landscape and provides founders at every stage with the space to improvise and innovate.

Based on reporting by Birmingham Times.