Tag Archives: small businesses

Rodriguez’s promotion will mean bigger LiftFund loans available in RGV

MCALLEN, Texas — McAllen-based senior loan officer Marlene Rodriguez has been promoted to market director for micro-lender LiftFund. In his new position, Rodriguez will now be able to offer larger loans of up to $500,000 in the Rio Grande Valley. LiftFund President and CEO Janie Barrera said the impact of …

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Cadence Bank Releases Five-Year Community Benefits Plan | Business

Cadence Bank, formerly BancorpSouth, has announced its 2022-2026 Community Benefits Plan. Developed in conjunction with the National Community Reinvestment Coalition (NCRC), it is built on a commitment to support traditionally underserved communities, including low- and moderate-income (LMI) neighborhoods, people of color and small businesses. The $20.7 billion five-year plan includes …

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Requests for flood damage assistance end soon

Flash floods swept through parts of central Alabama in October 2021. They destroyed homes, washed away vehicles and killed four people in several counties. Jefferson and Shelby counties saw the brunt of the precipitation. No less than ten centimeters of rain fell in some places. Precipitation graphs for October 6 …

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Disaster loan assistance offered in Jefferson County by the US Small Business Administration

By Hannah Curran, Editor-in-Chief JEFFERSON COUNTY – The United States Small Business Administration (SBA) announced the opening of a Business Recovery Center (BRC) at the Hoover Recreation Center in Hoover on Thursday, January 6 to provide businesses with Alabama individual assistance in submitting a disaster loan. if they were affected …

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China’s economy is slowing, a worrying sign for the world

BEIJING – Construction and real estate sales have fallen. Small businesses have closed due to rising costs and weak sales. Local authorities in debt reduce the salaries of civil servants. China’s economy slowed markedly in the final months of last year as government measures to curb property speculation also hurt …

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Alabama House Democrats want COVID-19 funds spent on health care, oppose unlicensed portering

The Alabama House Democratic Caucus released its legislative platform on Wednesday that urges Republicans who enjoy supermajority status in the Legislature to spend federal relief funds on health care. The caucus also renewed calls to expand Medicaid under the Affordable Care Act, repeal the state’s 4% grocery tax, implement early …

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BancorpSouth Bank and Cadence Bancorporation Receive Final Regulatory Approval for Merger

TUPELO, Miss. and Houston, texas, October 15, 2021 / PRNewswire / – BancorpSouth Bank (NYSE: BXS) (“BancorpSouth”) and Cadence Bancorporation (NYSE: CADE) (“Cadence”), the parent company of Cadence Bank, NA, announced that their proposed merger has received l ‘Federal Deposit Insurance Company Final Approval (“FDIC”). The FDIC approval follows recent …

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Inclusive Prosperity: Regions Community Development Corporation invests $ 2 million in Optus Bank to empower underserved communities | Your money

BIRMINGHAM, Alabama – (BUSINESS WIRE) – October 5, 2021– Regions Community Development Corporation, a wholly owned subsidiary of Regions Bank, on Tuesday announced a $ 2 million equity investment in Optus Bank, a federally appointed minority depository institution and community development financial institution (CDFI ). This press release features multimedia. …

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Breast Cancer Research Foundation of Alabama partners with 20 companies to raise funds for research

In honor of National Breast Cancer Awareness Month, the Alabama Breast Cancer Research Foundation (BCRFA) partners with more than 20 companies to support innovative and vital research in Alabama. “Breast Cancer Awareness Month is an important opportunity to prevent breast cancer deaths through education and investment in breast cancer research,” …

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Foundations diversify their investment managers

Foundations diversify their investment managers Foundations try to increase diversity, starting with the companies that manage their assets. The Nathan Cummings Foundation announced in a press release this month that black-owned asset management company Bivium-WestFuller will now manage its endowment. Separately, the MacArthur Foundation has pledged to invest at least …

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Governor Ivey awards COVID relief grant to Etowah County

ETOWAH COUNTY, Alabama (WBRC) – Governor Ivey has announced that her office is delivering more COVID-19 relief funds to six counties. Etowah County will receive a $ 500,000 grant to relieve small business and provide rental assistance to qualified residents. Etowah County Commissioner Executive Director Shane Ellison hopes the money …

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PayPal deposits $ 135 million in financial institutions serving black and underserved communities

PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it will deposit $ 135 million of its capital in mission-oriented financial institutions and management funds that help underserved communities of color fight barriers to economic equity, including Hope Credit Union, OneUnited Bank, Self-Help Federal Credit Union, CNote’s Wisdom Fund, and various …

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PayPal deposits $ 135 million? in financial institutions serving black and underserved communities? As part of a $ 535 million commitment? to promote racial equity

With these deposits, PayPal has now committed more than $ 500 millions of capital through its racial equity initiatives, including a deposit in Optus Bank; an investment in LISC’s Black Economic Development Fund; investments in 19 venture capital funds led by Black and Latinx; and grants to black-owned small businesses …

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Synovus Introduces Synovus Accelerate AR, a New Integrated Suite of Receivables Solutions | National company

COLUMBUS, Georgia – (BUSINESS WIRE) – June 1, 2021 – Synovus today launched Synovus Accelerate AR, a brand new fully integrated receivables suite that enables businesses to accelerate access to working capital and reduce exceptions through direct processing across all payment channels. Synovus Accelerate AR comes bundled with Deluxe, a …

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Opinions of small business owners

This AARP survey explored the opinions of 817 Alabama small business owners or decision makers on employee benefits. Most small business owners worry as taxpayers that some Alabama residents haven’t saved enough money for retirement. Most believe that more should be done to encourage Alabama residents to save for retirement. …

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Decatur’s Lively promoted to Bank Independent

The telegraph Nicola Sturgeon faces backlash for keeping Glasgow under Covid Level 3 restrictions Glasgow is to remain in the UK’s top lockdown for a week and will lag behind the rest of Scotland as restrictions are further relaxed, Nicola Sturgeon said today as she faced a furious commercial backlash. …

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18 new car labels proposed for Alabama

You are probably familiar with some of the most important specialty license plates in Alabama. Cars through the starting sports labels for their favorite college or university or that promote a profession or support a cause. What you might not realize is that there are over 100 license plate options …

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Learning to live without LIBOR

May 22, 2021 A RESTAURANT CHAIN in Huntsville, Ala., draws an additional a few thousand dollars from its working capital facility with a local bank. Meanwhile, its employees’ pension plan must convert the variable interest rate on $ 10 billion of its assets into a fixed income stream. The system …

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World’s Best Banks 2021: US Regional

The best regional banks in the United States surged to meet the needs of customers and the community throughout the tough times of the year. As the Covid-19 pandemic emerged, “the extent of the uncertainty” was unclear, says Jerry Sargent, chairman of the Citizens Bank and executive of the Massachusetts …

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PNC plans $ 88 billion in community investments

PNC Financial Services Group’s planned acquisition of an Alabama-based bank will bring additional community investment to all of PNC’s markets, including Greater Boston. PNC this week announced a new community benefits plan that will provide $ 88 billion in loans, investments and other financial support to strengthen economic opportunities for …

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Small Businesses Respond to New Round of Stimulus | Health

Local restaurateurs and arts organizations are among those seeking federal aid under the $900 billion stimulus package passed two days after Christmas. President Trump signed the bill Dec. 27, six days after Congress passed it. The latest CARES (Coronavirus Aid Relief and Economic Security Act) injects more money into the …

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Face masks and the PPP program

A few days ago I started writing an article about the PPP program. In short, this program aims to help small businesses maintain employee compensation. It is currently in its second round of funding and totals over $650 billion. The program’s initial failures are well documented – from difficulty getting …

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Temenos helps U.S. banks and credit unions meet growing demand for emergency loans

Temenos (SIX: TEMN), the banking software company, today announced that its digital omnichannel product Temenos Infinity enables U.S. banks and credit unions to expedite applications for small business loans under the Temenos Infinity program. United States Small Business Administration (SBA) paycheck protection (PPP). . Implemented under the American CARES (Coronavirus …

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Frost Bank Executives Provide Advice to San Antonio Area Small Businesses Navigating the PPP Lending Process

Some San Antonio groups wanting to provide assistance to very small local businesses seeking federal stimulus money have turned to the bankers at Frost Bank for tips. They target companies with less than 50 employees. In a conference call Thursday, Frost Bank CEO Phil Green and other bank officials shared …

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More coronavirus grants available for small businesses in Bexar County

Small businesses in Bexar County that have suffered losses from the COVID-19 pandemic have until June 19 to apply for a second round of grants. The county-wide program application process, which opened on Monday, is designed to provide assistance as needed. It is administered by the non-profit association LiftFund in …

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‘Energize Colorado’ Fund to Offer Money to Struggling Firms – CBS Denver

DENVER (CBS4) – A new program starting next week will provide more than $ 25 million in small business loans and grants to Colorado businesses. “Energize Colorado” will prioritize businesses in rural areas, as well as those owned by veterans, women and minorities. Alan Gionet of CBS4 spoke with business …

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Lubbock Small Business Development Center Prepares Applicants for Second Round of PPP Loans | KLBK | KAMC

LUBBOCK, Texas – The Lubbock Small Business Development Center is preparing applicants for the second round of Paycheck Protection Program loans. First-time business loan applications were accepted on Monday, while businesses that have already received a loan will be able to begin the application process on Wednesday. “The PPP loan …

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Coronavirus Policies Explained: The CARES Act Small Business Relief

With an unprecedented crisis, comes unique help. Many small business owners, lenders and business consultants are trying to navigate the nuances of the CARES Act, a coronavirus relief program passed in late March, with the aim of mitigating losses, starting to recover and plan for the future. To date, the …

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Small businesses hear crickets after applying for federal loans

GOLETA, CALIF. – Days of uncertainty compounded by hope and confusion over the process for applying for a small business loan through the federal government have baffled local homeowners. And worried. Linda Mangione (left) and her husband Robert (right) owners of MasterCare in Goleta. Manager, Maria Castro, stands in the …

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SBA Provides Disaster Assistance to Small Businesses Affected by COVID-19

SACRAMENTO, Calif .– The US Small Business Administration is offering low-interest federal disaster working capital loans to small California businesses suffering substantial economic harm as a result of COVID-19. The SBA acted on its own authority, as provided for in the President’s recently signed Coronavirus Preparedness and Response Supplementary Appropriations …

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SBA PPP Loan Review FAQs

There have been many changes to the Paycheck Protection Program (PPP) over the past few months, mainly due to the law on economic aid for small businesses, nonprofits, and hard-hit sites ( Economic Aid Act) enacted in December 2020 as part of the Consolidated Appropriations Act, 2021, and related administrative …

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Amur Equipment Finance approved as SBA Paycheck Protection

GRAND ISLAND, Neb., May 12, 2020 (GLOBE NEWSWIRE) – Amur Equipment Finance, Inc. (AmurEF), one of five nationally-ranked independent equipment finance companies, has announced that it has been approved by the Small Business Administration (SBA) of the United States. ) to serve as a paycheck protection program (P3) lender. AmurEF …

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I got my CARES Act loan

If you are, or plan to be, the beneficiary of a CARES Act loan (including PPP, EIDL, payroll tax deferral, etc.) a SCORE sponsored webinar can help. On May 27, from 5:30 p.m. to 8:00 p.m., there will be a ZOOM webinar regarding the CARES Act Loans and where you …

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California Credit Union funds more than $ 53.4 million in SBA Paycheck Protection Program loans to support local businesses and jobs

GLENDALE, California, July 20, 2020 / PRNewswire / – Through the SBA’s Paycheck Protection Program (PPP), California Credit Union (CCU) has granted loans to 546 small businesses totaling more than $ 53.4 million. These PPP loans are estimated to have helped save or restore around 5,500 jobs in Southern california. …

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SBA fixes paycheck protection rules for construction

In a whirlwind of legislation, rule-making, guidance, and answers to FAQs on the CARES Act, inevitable confusion has arisen regarding companies’ eligibility for the Paycheque Protection Program (PPP). Under the PPP, $ 349 billion in funding is available for businesses affected by COVID-19. Qualifying businesses can borrow up to 2.5 …

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Fed lets Wells Fargo increase paycheck protection loans

On Wednesday, the Federal Reserve temporarily lifted a limit on Wells Fargo & Co.’s ability to provide coronavirus relief loans to small businesses through the new paycheck protection program. As a result, the bank announced that it would expand its stake in $ 349 billion program, which offers small businesses …

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McClellan’s economic reconstruction plan to invest in workers, small businesses and fight inequality

Posted on Sunday, March 21, 2021 at 5:20 p.m. Join the 100,000+ AFP followers on Facebook Buy an AFP subscription Subscribe to AFP podcasts on itunes and Spotify News, press releases, letters to the editor: [email protected] Advertising requests: [email protected] Jennifer mcclellan State Senator Jennifer McClellan detailed her plan on Sunday …

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Latest COVID-19 Government Funding and Relief Package Includes Key Communication Provisions | Pillsbury Winthrop Shaw Pittman LLP

$ 7 billion in broadband financing Broadband legislation provisions target funding for new and existing programs, addressing the immediate challenges of broadband access and affordability intensified by the pandemic, while also addressing the long-term deployment of broadband and network security issues. Specifically, the legislation will provide additional funding for telehealth, …

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Payday Loan: everything you need to know before hiring

One of the options available in the market for those who need money quickly is personal payday loan . This modality guarantees a financial respite for the contractor, since it has easier access than other banking products and can be negotiated with the institutions, which provides better payment conditions . …

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