SBA: Landmark Collaboration with Historically Black Fraternities and Sororities to Address the Wealth Gap Through Black Entrepreneurship Announced
First of its Kind Agreement That Will Focus on Improving Financial Literacy, Outreach and Capital Access Opportunities Across 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, signed a Strategic Alliance Memorandum (SAM)–an authority unique to the SBA among federal agencies–with…
EDA: Last Week, Over $19 Million in American Rescue Plan Funds Invested
Last week, the following grants were made under the American Rescue Plan Funds program of the CARES Act Recovery Assistance program: June 14, 2022 – U.S. Department of Commerce Invests $8 Million in American Rescue Plan Funds to Support Tribal Enterprises on the Fort Independence Reservation June 14, 2022 – U.S. Department of Commerce Invests $2.4 Million…
EDA: $5.3 Million Invested to Support Tech-Based Business Growth in Grenada, MS
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $5.3 million grant to the Grenada County Board of Supervisors, Grenada, Mississippi, to bolster the region’s technology sector by improving access to Grenada Technology Park North. This EDA project will construct a four-lane access road into…
EDA: $1.5 Million Invested to Support Business Development in Laredo, TX
Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Laredo, Texas, to help build a two-mile road as part of the Springfield Avenue Extension. This grant will help boost business and job growth in the region by providing a…
EDA: $3 Million Invested to Support Existing and Future Business Needs in Millen, GA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the city of Millen, Georgia, for water infrastructure upgrades in support of local businesses. This EDA project will provide a new well and water tank that will ensure reliable water service to…
EDA: $723,935 Invested to Support Infrastructure Improvements in South Sioux City, NE
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $723,935 grant to the city of South Sioux City, Nebraska, to make critical infrastructure improvements needed to facilitate the growth of industry in the region. This grant will support construction of new roadway, water, and sewer infrastructure needed to accommodate expanded commercial…
CFPB: Initiative Launched to Improve Customer Service at Big Banks
Effort Will Assist Consumers to Assert Their Legal Rights The Consumer Financial Protection Bureau (CFPB) is seeking public input on how bank customers can assert their rights to better customer service with big banks. A 2010 federal law specifies that consumers have rights to obtain timely responses to requests for information about their accounts from…
ABA: New Infographic with Tips for Prospective Home Buyers Released
In recognition of American Housing Month, the American Bankers Association Foundation today released an infographic outlining five tips for how home buyers can overcome challenging market conditions and make their dream of homeownership a reality. The infographic acknowledges that limited housing inventory, supply chain disruptions that have delayed new home construction, rising interest rates and the increased…
EDA: Over $29 in American Rescue Plan Funds Invested
Last week, the following grants were made under the American Rescue Plan Funds program of the CARES Act Recovery Assistance program: June 9, 2022 – U.S. Department of Commerce Invests $1.7 Million in American Rescue Plan Funds to Increase High-Speed Internet Connectivity in Monticello, New York June 7, 2022 – U.S. Department of Commerce Invests $8.4 Million…
OCC: Acting Comptroller Discusses Importance of CDFIs and MDIs
Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of community development financial institutions (CDFI) and minority depository institutions (MDI) at the 2022 Community Development Bankers Association Peer Forum. In his remarks, the Acting Comptroller highlighted initiatives to revitalize MDIs and increase investments in CDFIs, and the Office of the Comptroller of…