Rehm, Barbara A
If you can’t get a traditional loan from the SBA or a bank, consider alternative or online lenders. Alternative lenders provide loans that are similar to those of a traditional bank but generally are more lenient and are processed much faster. These loans may come with higher interest rates...
Minority depository institutions, or MDIs, "have emerged stronger now coming out of the pandemic and the recent crisis due to the government support and help from the big banks," James Sills, CEO of M&F Bank, a Black-owned lender based in Durham, North Carolina. He spoke at an ...
To qualify, 51% of the voting stock must be minority-owned or a minority-majority board of directors serving mostly minority communities. What is a CDFI? CDFIs are private financial institutions – including banks, credit unions, loan providers and venture capital firms – that provide fair and...
NXT Capital Supports The Capstreet Group’s Add-On Acquisition and Refinancing of The Colt Group EBSC Lending Provides $17.5MM Loan to Refinance Multifamily Property in New York TD Bank Appoints Bumbaca Regional President of Metro New York Encina Lender Finance Expands Investment Team and Hir...
The money can be used by banks to offer grants, loans or loan forbearances to minority-owned businesses and struggling individuals. The first round of funding will be released this summer, the Treasury official said. Banks of color, specifically Black-managed ones, have struggled in recent histo...
Associated Bank’s Community Uplift Loan Program supports businesses owned by women, minorities and veterans. We're proud to help businesses in our communities grow and succeed. Loan Features Secured loans and lines of credit available from $5k-$50k¹ ...
Lack of a banking relationship was one of the reasons the New York Federal Reserve Bank cited for disparities in PPP loan approvals to Black- and white-owned companies. The study based on the first SBA data release found that in parts of the country where there were concentrations ...
status from her bank, a subsidiary of a big national bank. she also got nowhere with smaller community banks. marsh, owner of mspsgfree, a chicago-based gluten-free baking business, finally applied through an online lender in late july and got her loan a few days before the pp...
GAO's analysis and other studies identified some possible explanations for these differences, including relatively higher loan loss reserves and operating expenses and competition from larger banks. Bank regulators have adopted differing approaches to supporting minority banks, but no agency has regularly ...