HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Cuyahoga Metropolitan Housing Authority
174 units of deeply affordable rental homes to be preserved for low-income seniors in Cleveland, Ohio The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 28 announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Cuyahoga Metropolitan Housing Authority (CMHA) in Cuyahoga County, Ohio, to preserve…
SBA: New Funding Announced to Expand Outreach Center for Women Entrepreneurs through Minority Serving Institutions
$1.5M Will be Awarded to Support the Expansion of the Agency’s Women’s Business Centers Across HBCUs and Higher Education Institutions Serving Hispanic, Tribal and AAPI Communities Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the availability of $1.5 million…
Federal Reserve: Household Survey Shows Sustained Rise in Reported and Expected Spending Growth
The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2021 Survey of Consumer Expectations (SCE) Household Spending Survey, which provides information on individuals’ experiences and expectations regarding household spending. The survey shows a continued rise in monthly household spending growth, with spending growth moving well above pre-pandemic levels. However, the…
SBA: $5.4 Million in Prizes Announced to Nearly 100 Awardees to Support Inclusive Entrepreneurship in the Innovation Ecosystem
Today, U.S. Small Business Administration Administrator Isabella Casillas Guzman announced 84 winners for the Growth Accelerator Fund Competition (GAFC) and eight winners for the Small Business Innovation Research (SBIR) Catalyst competition, a new component aimed at spurring investment in underrepresented communities within the innovation economy at scale, receiving a combined total of $5.4 million in awards. This important…
CFPB: Report Shows Renters at Risk as COVID-19 Safety Net Ends
Stimulus Checks and Other Payment Relief Linked to Renters’ Financial Stability The Consumer Financial Protection Bureau (CFPB) today released a report warning that millions of renters and their families may suffer previously avoided economic harms of the COVID-19 pandemic as federal and state relief programs end. The report, “Financial conditions for renters before and during…
HUD: National Healthy Homes Month 2021 Kicks Off
Theme of “The Power of Partnerships” underscores the importance of working with our local partners to improve the quality of homes and communities Every June, National Healthy Homes Month (NHHM) highlights the impact of home-related health hazards and preventive actions families can take to eliminate them. During NHHM, the U.S. Department of Housing and Urban…
EDA: $1.5 Million in CARES Act Recovery Assistance Invested to Support Small Businesses and the Medical Technology Industry in Michigan
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $1.5 million in CARES Act Recovery Assistance grants to help the state of Michigan prevent, prepare for, and respond to coronavirus. “President Biden is committed to harnessing the full power of the federal government to ensure our…
EDA: $470,000 Invested to Protect Woods Hole Oceanographic Institution from Storms and Support Growth of Cape Cod’s Marine Science Industry
U.S. Secretary of Commerce Gina M. Raimondo today in Woods Hole, Massachusetts, announced that the Department’s Economic Development Administration (EDA) is awarding a $470,000 grant to the Woods Hole Oceanographic Institution to develop a waterfront oceanographic research infrastructure resiliency plan that will help keep the world-renowned research, exploration, and education institution operational in the event…
ABA: Report Shows Addressing Unbanked & Underbanked Challenges Requires Multifaceted Approach
Enhancing existing programs, highlighting no- and low-cost bank account offerings, improving financial education, expanding broadband internet access, and encouraging the opening of bank accounts during government benefit program enrollment will help address the unbanked/underbanked challenge in the United States. A new report, Delivering Financial Products and Services to the Unbanked and Underbanked in the United States…