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 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…
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…
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…
HUD: Funding Renewed for Thousands of Local Homeless Programs
$2.5 billion to renew existing grants for more than 6,500 community-based housing and service providers The U.S. Department of Housing and Urban Development (HUD) today awarded $2.5 billion to renew support to thousands of local homeless assistance programs across the nation. HUD’s Continuum of Care (CoC) grants will provide critically needed support to 6,597 local…
OCC: Promoting Earned Income Tax Credit Awareness Day
In an effort to make more eligible working families aware of the benefits of the earned income tax credit (EITC), the Office of the Comptroller of the Currency is promoting the 15th annual EITC Awareness Day on January 29. “We continue to encourage more eligible Americans to take advantage of EITCs,” Acting Comptroller of the Currency Blake…
HUD: First Week Swift Actions to Support Homeowners and Tackle Nation’s Housing Crisis
In the first week of the Biden Administration, the Department of Housing and Urban Development (HUD) took swift action to address immediate housing needs during the COVID-19 pandemic while laying the groundwork to address the nation’s larger, systemic housing challenges and restore sound management to the department. “HUD and the new administration are quickly addressing…
CDFI Fund: Target Market Waiver Extended for Lending Under Round Three of Paycheck Protection Program
Target Market Waiver Extended for Lending Under Round Three of Paycheck Protection Program The U.S. Treasury Department and Small Business Administration (SBA) recently announced the reopening of a third round of the Paycheck Protection Program with $284 billion in funding that was authorized by the Coronavirus Response and Relief Supplemental Appropriations Act (Pub. L. 116-260). This includes…