EDA: $1.5 Million in CARES Act Recovery Assistance Invested to Establish a Revolving Loan Fund to Serve Businesses Across Delaware
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.5 million CARES Act Recovery Assistance grant to the Delaware Division of Small Business, Dover, Delaware, to establish and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to businesses adversely affected by the coronavirus pandemic across Delaware. This…
EDA: $1.1 Million Invested to Protect Businesses from Flooding in Dayton, OH
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the Miami Conservancy District, Dayton, Ohio, to protect the Old North Dayton area from flooding by upgrading the Greater Old North Dayton levee. This EDA grant, to be matched with $276,254 in local investment, is expected to retain…
EDA: $1 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund to Serve Businesses Across Hawaii
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to the State of Hawaii’s Department of Business, Economic Development & Tourism, Honolulu, Hawaii, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to businesses adversely affected by the…
ABA: Foundation Launches 2021 Financial Education Campaign, Unveils New Free Resources for Banks
New materials will help banker volunteers lead virtual and in-person lesson plans for their communities The American Bankers Association Foundation today launched its 2021 financial education campaign and called on America’s banks and their more than two million employees across the nation to participate in this innovative, industry-wide effort to promote consumer financial readiness. This…
FEMA: President Biden Approves Major Disaster Declaration for the Navajo Nation due to COVID-19 Pandemic
FEMA announced that federal emergency aid has been made available for the Navajo Nation to supplement the tribal recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on Jan. 20, 2020 and continuing. Federal funding is available to the Navajo Nation and certain private nonprofit organizations on a cost-sharing basis…
HUD: FHA Issues Measures to Protect Health, Safety and Homeownership Security of Borrowers Impacted by COVID-19
Today, the Federal Housing Administration (FHA) issued a series of waivers of provisions in its Single Family Housing Policy Handbook 4000.1 that would normally require in-person contact between mortgage servicers and borrowers, including seniors with FHA-insured Home Equity Conversion (HECM) reverse mortgages. These waivers allow important mortgage servicing activities to continue, but in a manner that allows for safe…
ABA: Report Shows Credit Market Conditions Rebound for Consumers and Businesses
The chief economists of North America’s largest banks see improvement in business and consumer credit market conditions over the next six months, according to a new quarterly report from the American Bankers Association. The Q1 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report represents a suite of indices…
HUD: Puerto Rico Housing Department and HUD Announce New Action to Enable Stronger Recovery for the Island
The U.S. Department of Housing and Urban Development (HUD) and Puerto Rico’s housing department, Departamento de la Vivienda, today announced two partial approvals of Vivienda’s Action Plan, approving the use of $6.2 billion in Community Development Block Grant Mitigation (CDBG-MIT) funding for Puerto Rico. “HUD and the Biden Administration are committed to working with Puerto…
ABA: Banks Accepting Entries for ABA Foundation’s Annual Lights, Camera, Save! Teen Video Contest
Banks across the nation are now accepting entries for the American Bankers Association Foundation’s 11th annual Lights, Camera, Save! video contest. The national contest encourages teens ages 13-18 to get creative and educate their peers on the benefits of sound money management. Winners are eligible for cash prizes up to $5,000. Teen contestants will create up to…