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Showing posts with the label Black Enterprise Magazine

Black American Business Owners Sound Off in New Survey of PPP

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Black American Business Owners Sound Off in New Survey of PPP  by Jeffrey McKinney, Black Enterprise Magazine April 24, 2020
Financing from the Paycheck Protection Program (PPP) is getting a cool reception from black business owners.

A new national survey of 50 small businesses conducted Thursday by Washington, D.C.-based Creative Investment Research on the Paycheck Protection Program and the Economic Injury Disaster Loan Emergency Advance (EIDL) Program was intended to get a true pulse of how
effective the lending programs have been.

The survey came out the same day the House rati􀁽ed a bill by the Senate to pump roughly $310 billion more in loans to the Paycheck Protection Program, The Wall Street Journal reports.
The PPP exhausted its initial $350 billion funding last week after being rolled out on April 3. The program for 􀁽rms with up to 500 workers became law in late March as part of the $2 trillion coronavirus economic stimulus package. It was geared to help small companies co…

CITI LAUNCHES $150 MILLION FUND TO SUPPORT MINORITY BUSINESSES, INCLUDING BLACK FIRMS

Black businesses with socially-driven concepts can now possibly attain some new capital from Citi. See: https://www.blackenterprise.com/citi-launches-150-million-fund-to-support-minority-businesses-including-black-firms/

New Bill Could Help Black Banks Raise Capital, Cut Costs, and Attract Black Investors

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Article by Jeff McKinney in Black Enterprise describes HR 41, "the Rescue Act for Black and Community Banks. The bill–initiated in January 2019–aims to, along with other measures, bring regulatory relief for black banks from Congress, boost wealth-building for black consumers and businesses, and help save black banks from failing."

See: https://www.blackenterprise.com/new-bill-black-banks-black-investors/

Executives Working to Create Black-Owned Holding Company

Impact Investing