SBA: Celebrating 50 Years of Surety Bond Guarantees
The Office of Surety Guarantees will Host a Free, Virtual Conference September 24-25 for Small Businesses The U.S. Small Business Administration’s (SBA) Office of Surety Guarantees (OSG) will host a two-day virtual conference to commemorate 50 years of Surety Bond Guarantees (SBG). The conference will assist small businesses seeking surety bonds and discuss SBA’s role in the future of the surety bond industry. “For the last 50 years, the public-private partnership of…
SBA: West Virginia and Massachusetts Women-Owned Firms Take Top Honors in Federal Contracting
The U.S. Small Business Administration announced two women-owned firms will receive awards honoring their work in federal contracting. Action Facilities Management, Inc. (AFM), an 8(a)-certified commercial facilities management firm specializing in infrastructure and security support services from Morgantown, West Virginia; and Specialty Materials Inc. (SMI), a firm specializing in composite fiber and prepreg products that support the aerospace…
SBA: $3 Million in Grants to Organizations Supporting Small Business Innovation and R&D Commercialization Awarded
The U.S. Small Business Administration granted 24 awards up to $125,000 each for specialized training, mentoring, and technical assistance for R&D-focused small businesses under the Federal and State Technology (FAST) Partnership Program administered by the SBA’s Office of Innovation and Technology. FAST seeks to improve outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)…
FDIC: Results of 2020 Summary of Deposits Annual Survey Released
The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2020. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 85,000 domestic offices operated by more than 5,000 FDIC-insured commercial and savings banks, savings…
FDIC: First-Ever FDIC Academic Challenge Launched
Teams from universities and colleges throughout the country will examine effects of community banks on local economic development The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this inaugural…
Federal Reserve: Report on the Economic Well-Being of U.S. Households Issued
Data collected to supplement the Federal Reserve Board’s seventh annual Survey of Household Economics and Decisionmaking showed that U.S. families were faring better financially in July than in April, but many still faced uncertainty regarding layoffs and prospects for returning to work. Recognizing the unprecedented financial disruptions caused by the COVID-19 pandemic, the Federal Reserve…
Federal Reserve: FAQs Updated to Clarify Board and Treasury’s Expectations Regarding Lending Underwriting for the Main Street Lending Program
The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower’s pre-pandemic condition and forward to their post-pandemic prospects. The FAQs also clarify…
EDA: $1.6 Million Invested to Establish Truck Driving Workforce Training Facility in Pensacola, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the District Board of Trustees of Pensacola State College, Pensacola, Florida, to help construct a truck driving training facility that will provide up-to-date instruction, simulation, and on-the-road training for students. The EDA grant,…
EDA: $1.2 Million Invested to Establish Aeronautics Workforce Training Center in Minnesota Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to Carlton County, Minnesota, to establish an aeronautics workforce training center to support the region’s emerging aviation industry. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched…
Census Bureau: American Community Survey State and Local Income, Poverty and Health Insurance Statistics Released for 2019
Statistics for More Than 40 Demographic and Economic Topics Support Detailed Profiles of Communities Nationwide The U.S. Census Bureau today released a detailed look at America’s people, places and economy with statistics on income, poverty, health insurance, employment, families and more than 40 other topics from the American Community Survey (ACS). It is important to note that data for…