The CEO of Magic Johnson Enterprises collaborated withMBE Capital Partners to offer $100 millionin loans to minority- and women-owned companies hurt by stay-at-home orders due to Covid-19. The loans were funded through Johnson’sEquiTrust Life Insurance Companyand will be provided through ...
Asked about why minority-owned businesses are getting the brunt of the PPP loan fallout, Smith explained that the "vast majority" of them are "sole proprietors" who usually have under five employees, and so apply for smaller loans that do not provide much of an economic incentive for large...
Credit unions, community development financial institutions and other smaller lending outfits salvaged the PPP for a lot of Black-owned businesses, said Melvin M. Coleman, executive director at the Atlanta Black Chambers. More such lenders were allowed to participate as PPP lenders in the...
Subscribe Unsubscribe anytime. By entering your email, you agree to receive marketing emails from Shopify. By proceeding, you agree to theTerms and ConditionsandPrivacy Policy. Sell anywhere with Shopify Learn on the go. Try Shopify for free, and explore all the tools you need to start, run...
For more on stimulus aid still available, see our main storyhere. Some community lending institutions are still accepting applications from minority-owned and women-owned businesses and businesses in underserved communities to continue to disseminate funding earmarked for that purpose. For more on stimul...
Overview:Founded in 1866,Huntington Bankis a traditional regional bank based in Columbus, Ohio. Its Lift Local Business program launched in 2020 and supports women-owned businesses, along with minority- and veteran-owned businesses, throughout their lifecycle. Women-owned businesses have received32 pe...
Paycheck Protection Program (PPP) loans have been a top option for businesses struggling due to COVID-19, but the tax obligations associated with them have been challenging to track and understand.
To qualify for financing via Union’s Business Diversity Lending Program, businesses must have been in operation for at least two years and at least 51% owned by a woman, a member of a minority group, or a military veteran. Eligibility is restricted to United States citizens, and borrowers ...
Most of the couple’s microloans had been collateralized by farmland in their ethnic Kreung and Brao village of Ta Heuy in northeastern Ratanakiri province, one of the regions of Cambodia most heavily populated with Indigenous ethnic minority communities. To repay their debts, they now plan ...
$175 million to create a “community navigator” pilot program to increase awareness of and participation in COVID-19 relief programs for business owners currently lacking access, with priority for businesses owned by socially and economically disadvantaged individuals, women, and veterans Isabel Guzmani...