SBA: Timothy Porter of Appddiction Studio, LLC of Texas Named 2020 Small Business Person of the Year
Logistics and Transportation Entrepreneur from Florida also recognized by SBA as Runner-up Today, the U.S. Small Business Administration recognized this year’s Small Business Person of the Year, Timothy Porter of Appddiction Studio, LLC, of Texas, during the 2020 National Small Business Week virtual ceremony. “It is my honor to announce Timothy Porter of Appddiction Studio, LLC, is this year’s national Small Business…
SBA: $5.5 Million in PRIME Grants Awarded to Help Emerging Micro-Entrepreneurs Gain Access to Capital
Grant Awardees Include 23 Provider Organizations Located in Opportunity Zones Thirty organizations across the United States that assist disadvantaged entrepreneurs are set to receive nearly $5.5 million in grants from the U.S. Small Business Administration’s Program for Investment in Micro-Entrepreneurs (PRIME). These nonprofit organizations help low-income entrepreneurs gain access to capital to establish and expand their small…
FHFA: Input Requested on Strategic Plan for Fiscal Years 2021-2024
The Federal Housing Finance Agency (FHFA) is requesting input on its Strategic Plan: Fiscal Years 2021-2024 (the Plan), which establishes new goals that are necessary for FHFA to fulfill its statutory duties, including responsibly ending the conservatorships of Fannie Mae and Freddie Mac (the Enterprises). The Plan formalizes FHFA’s, and its regulated entities’, new direction by updating the Agency’s…
EDA: $2.5 Million Invested to Make Critical Roadway Infrastructure Improvements to Protect from Flooding in Stillwater County, MT
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to the County of Stillwater, Montana, to make critical roadway infrastructure improvements needed to keep commerce flowing and support future business growth in the wake of flooding that impacted the county in 2019. The…
CDFI Fund: CY 2020 Round of New Markets Tax Credit Program Opened
Increased Allocation of $5 Billion to be made Available this Round The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2020 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is providing the NOAA…
HUD: Over $500,000 in CARES Act Funds Awarded to 15 State and Local Fair Housing Organizations
The Department of Housing and Urban Development today announced over half a million dollars in additional funding to HUD Fair Housing Assistance Program (FHAP) agencies in 12 states to support activities related to COVID-19. These awards are part of $1.5 million in Partnership and Special Enforcement Effort funds provided through the Coronavirus Aid, Relief, and…
SBA: President Trump Proclaims National Small Business Week September 20-26
The U.S. Small Business Administration’s 2020 National Small Business Week celebrations officially commence this week with a virtual three-day award ceremony recognizing national award winners from across the country and U.S. territories for their significant accomplishments. The three-day award ceremony will commence Tuesday, September 22, with SBA Administrator Jovita Carranza announcing the 2020 National Small Business Person of the Year. Hosted…
Federal Reserve: ANPR Issued on Approach to Modernize CRA Regulations
The Federal Reserve Board on Monday issued an Advance Notice of Proposed Rulemaking (ANPR) that invites public comment on an approach to modernize the regulations that implement the Community Reinvestment Act (CRA) by strengthening, clarifying, and tailoring them to reflect the current banking landscape and better meet the core purpose of the CRA. The ANPR…
OCC: Federally Chartered Banks and Thrifts Allowed to Engage in Certain Stablecoin Cryptocurrency Activities
The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to hold “reserves” on behalf of customers who issue certain stablecoins. Stablecoins refer to cryptocurrency backed by an asset such as a fiat currency, including U.S. dollars or other foreign currency. “National banks and…
OCC: Acting Comptroller’s Statement on the Federal Reserve’s Action to Modernize the CRA
Acting Comptroller of the Currency Brian P. Brooks today released the following statement in appreciation of the Federal Reserve Board’s Advance Notice of Proposed Rulemaking (ANPR), which solicits stakeholder comment on how to improve Community Reinvestment Act (CRA) regulations for state-chartered banks that are members of the Federal Reserve System. We welcome the Federal Reserve’s…