SBA: Minnesota Investment Firm Named Small Business Investment Company of the Year
Spell Capital Mezzanine SBIC Partners II, L.P of Minneapolis, MN, has been named the 2020 Small Business Investment Company (SBIC) of the Year by the U.S. Small Business Administration as part of National Small Business Week. Spell Capital Mezzanine, along with other national winners and finalists for the National Small Business Person of the Year, will be honored…
SBA: 2020 Phoenix Award Champions Honored for Outstanding Disaster Recovery Efforts
The U.S. Small Business Administration today announced the 2020 National Small Business Week Phoenix Award winners for their outstanding and inspiring resilience in the aftermath of devastating disasters. The virtual National Small Business Week event, rescheduled from May due to the coronavirus pandemic, will be held September 22-24. This year’s National Small Business Week activities will include numerous educational panels providing…
EDA: $35 Million Invested to Fuel High-Growth Entrepreneurship Across America
Economic Development Administration’s Build to Scale Program Supports Efforts of 52 Organizations in 36 States U.S. Secretary of Commerce Wilbur Ross today announced that 52 organizations — including nonprofits, institutions of higher education, and entrepreneurship-focused organizations — from 36 states will receive grants totaling $35 million to support entrepreneurship, acceleration of company growth, and increased…
EDA: $2.9 Million Invested to Boost Business Growth Near Opportunity Zone in Marshalltown, IA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.9 million grant to the city of Marshalltown, Iowa, to make infrastructure improvements needed to support industrial development. The EDA grant, to be located near a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $1.4 million…
EDA: $518,400 Invested to Protect Businesses from Flooding in Iowa Falls, IA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $518,400 grant to the city of Iowa Falls, Iowa, to flood-proof the public water supply and wastewater treatment facility to protect businesses from flooding. The EDA grant, to be matched with $129,600 in local investment, is expected to retain 75 jobs and…
FEMA: President Trump Approves Alabama Emergency Declaration
FEMA announced that federal emergency aid has been made available to the state of Alabama to supplement state, tribal and local response efforts to the emergency conditions in the area affected by Hurricane Sally beginning on Sept. 14, 2020, and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose of alleviating the hardship and suffering caused by the emergency on the local…
FEMA: Disaster Declaration Amendment Expands Wildfire Recovery Assistance in California
The major disaster declaration for California wildfires has been amended to provide more federal assistance to affected areas via the Federal Emergency Management Agency’s Public Assistance Program. Eligible applicants for this include state, county and local governments, federally recognized tribal governments, and some private non-profits such as educational and medical facilities. FEMA provides 75 percent…
Census Bureau: Income, Poverty and Health Insurance Coverage in the United States for 2019 Released
The U.S. Census Bureau announced today that median household income in 2019 increased 6.8% from 2018, and the official poverty rate decreased 1.3 percentage points. Meanwhile the percentage of people with health insurance coverage for all or part of 2019 was 92.0% and 8.0% of people, or 26.1 million, did not have health insurance at…
Census Bureau: Over 92 Percent of Households Counted So Far in 2020 Census
Over 92% of housing units have been accounted for in the 2020 Census as of today, with 26.6% counted by census takers and other field data collection operations, and 65.9% of housing units responding online, by phone or by mail. Every day, the U.S. Census Bureau releases the 2020 Census housing unit completion rate for the nation,…
CFPB: Outline of Proposals Under Consideration to Implement Small Business Lending Data Collection Released
The Consumer Financial Protection Bureau (Bureau) released its Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act governing small business lending data collection and reporting. The Bureau will convene a Small Business Advocacy Review panel in October 2020. The panel will prepare a report that examines the impact of…