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COVID-19

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Relationships Matter: Small Business and Bank Branch Locations

Relationships Matter: Small Business and Bank Branch Locations — Key Takeaways The number of banks and bank branches has declined significantly since 2009. Local branches are still crucial to small business lending. Small business lending is increasingly dominated by the largest lending institutions. Smaller institutions are disappearing as they merge or are bought out by …

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A Steely National Resolve Is Needed to Achieve an Equitable Recovery

Rebuilding vulnerable communities reeling from the economic ravages of COVID-19 pandemic will require a heightened public-private partnership—one defined not just by resolute individual and entrepreneurial initiative, social enterprise, and nonprofit capacity-building, but also by thoughtful and visionary public policy re-envisioned with these communities in mind. 

New PPP, Economic Injury Disaster Funding Now Open for Business

The new Paycheck Protection Program (PPP) portal opened January 11, 2021 for new and certain existing PPP borrowers. The new rules from the Small Business Administration (SBA) on both PPP and the targeted Economic Injury Disaster Grant (EIDL) aim to correct some of the lending discrimination uncovered in the first round.

Billionaires need to pay their fair share

The wealth gap between rich and poor Americans has more than doubled since 1989. The top 1% own more wealth than the entire bottom 90% combined. In the midst of the global pandemic, some of the nation’s super rich have doubled or even tripled their net worth.

Pandemic stimulus a necessary stopgap, but more work needs to be done for a just recovery

The package represents a down payment for a just recovery that will prevent evictions, protect small businesses and provide additional direct payments to millions of families facing continued financial distress as a result of this global pandemic and economic crisis. The package also provides additional funding for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), lenders who can put capital to work in low-income communities and communities of color when and where they need it most.