The pandemic and rapid social changes brought many challenges for a group of Black business owners in Washington, D.C., and Baltimore, but even so they emphasized the role of their businesses in maintaining the cultural vibrancy of their communities.
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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NCRC surveyed 938 small business owners across nine metropolitan areas from October 23, 2020, to December 29, 2020. The purpose of the survey was to determine whether small business owners explored other options, such as lease and loan modifications to save their businesses, and if so, did they access them.
More evidence of inequity in access to bank services to help small businesses survive the pandemic.
Donald Trump’s victory four years ago was unimaginable to many, and an emotional blow that only got worse over time. Until now. The post election drama is mostly over. The Electoral College is done. We finally know: Joe Biden will be the 46th president, and Kamala Harris will be many firsts as vice president: Black, South Asian, woman, mom.
In this report, NCRC extended our previously published analysis of bank branch closures to look at changes from 2017 through 2020.
The report revealed dramatic differences in the costs and lending patterns for different subgroups of Hispanic borrowers, such as Cuban, Mexican and Puerto Rican borrowers. It also found that most Latino borrowers get their mortgages from non-bank mortgage companies and not from banks
Even after troubling findings from previous mystery shopper tests were published and in the news, financial institutions continued to create barriers for minorities and women business owners to access PPP loans.
Although active employment rates in North Carolina’s small businesses dropped broadly during the first six months of the COVID-19 pandemic, by the end of August the rate had returned to pre-COVID levels for White entrepreneurs, but was still down by 62% for Black business owners, a new study shows. The study, from the National Community …
LFA quickly recognized the adverse consequences of COVID-19 and determined that they would need to be a reliable source of information for small businesses and policymakers.
Yesterday, the Senate passed a second Payment Protection Program (PPP) bill that will provide an additional $484 billion for small business aid, hospital funding and more testing for COVID-19.
In a confusing and scary time, the CFPB is a source for unbiased and informed information on a variety of financial hurdles that families can expect to face in the coming months.
As you plan for the potential impact of the coronavirus, there are a number of steps that you can take to help protect yourself or a loved one financially, both in the short and long term.
The Division of Equity and Inclusion is designed to empower, organize and support economically vulnerable, individuals, communities and small businesses. Combining advocacy, organizing, technical assistance and direct services the Division promotes economically viable, sustainable, inclusive communities for all Americans free from discrimination. The following programs are part of the Division: Business Development Center for Civil …
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded a letter sent by 84 Members of the U.S. House of Representatives, led by Representatives Donald Payne, Jr. (D-NJ) and Chris Van Hollen (D-MD), to the Consumer Financial Protection Bureau (CFPB) urging the agency to initiate rulemaking on the collection and release of small …
