FDIC: New Office of Minority and Community Development Banking Created to Support Mission-Driven Banks
Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams today announced the creation of a new office to support the agency’s ongoing strategic and direct engagement with Minority Depository Institutions (MDIs), Community Development Financial Institution banks (CDFIs), and other mission-driven banks. The new office will further promote private sector investments in low- and moderate-income (LMI) communities. …
SBA: $44.8 Billion through Signature Small Business Lending Programs Announced
In fiscal year 2021, 7(a) and 504 loan programs provided more than 61,000 loans, but gaps in access to capital for underserved communities remain Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the agency reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans for fiscal year (FY) 2021. “In the midst…
EDA: Build Back Better Regional Challenge Applicants Announced Showing Incredible Enthusiasm for Transformational Investment in Regions Across the Country
529 Applications Received from Regions across all 50 States and Five Territories Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) announced that it has experienced strong interest in its American Rescue Plan Build Back Better Regional Challenge, receiving 529 applications from regions across all 50 states and five territories. The $1 billion Build Back…
SBA: Community Navigator Pilot Program Grantees Announced
51 Grantees Selected Nationwide to Serve as Hubs Connecting Disadvantaged Small Businesses with Government Resources Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced grantees for the Biden-Harris Administration’s Community Navigator Pilot Program, an American Rescue Plan initiative designed to reduce barriers that all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, often face in accessing critical support. The Community Navigator Pilot Program will provide $100 million in funding to 51 organizations that will work with hundreds of local groups to connect America’s entrepreneurs to government resources so they can recover…
SBA: New Women’s Business Center in Rochester, New York Announced
The new resource hub will increase access to opportunities and recovery solutions for women entrepreneurs in Upstate New York. The U.S. Small Business Administration Administrator Isabella Casillas Guzman announced today the launch of a new Women’s Business Center (WBC) in Rochester, NY, which will be operated by the Urban League of Rochester, N.Y., Inc. (ULR). The new…
SBA: National Veterans Small Business Week Scheduled for November 1st through 5th
Events will highlight the Agency’s efforts to support the Nation’s Nearly 1.8 million veteran-owned small businesses through its 22 Veterans Business Outreach Centers The U.S. Small Business Administration will celebrate the entrepreneurial spirit and resilience of our veteran small business owners during National Veterans Small Business Week, Nov. 1-5, 2021. “National Veterans Small Business Week is a time…
EDA: $13.5 Million Announced to Support U.S. Manufacturers
Today, U.S. Secretary of Commerce Gina M. Raimondo announced $13.5 million in U.S. Economic Development Administration (EDA) grants to support 11 Trade Adjustment Assistance Centers (TAACs) that help manufacturers affected by imports adjust to increasing global competition and to create jobs. The TAACs, which each service multiple states, are located in California, Colorado, Georgia, Illinois,…
FDIC: FDITECH Selects Three Teams in Sprint to Help Banks Measure and Test Resiliency
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of three teams in a ‘sprint’ designed to explore new technologies and techniques to help community banks, and the banking sector as a whole, evaluate how well they can withstand a major disruption of any type. The sprint’s evaluation panel selected the following organizations as…
Federal Reserve: Series of Diversity and Inclusion Conferences Announced for November
The Federal Reserve Board announced on Monday that it will host a series of diversity and inclusion conferences in November focused on the experiences that underrepresented groups have as they participate in the economy, the economics profession, central banking, and finance. Federal Reserve Board Chair Jerome H. Powell will provide opening remarks at each event….
EDA: $2 Million in American Rescue Plan Funds Invested to Diversify and Grow Morgantown, WV’s Economy
Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding its first local investment as part of the Coal Communities Commitment to the Morgantown Utility Board in Morgantown, W.Va. The $2 million American Rescue Plan grant will help create 300 jobs and generate $250 million in private investment…