Industry News – August 31, 2023

VP Harris Launches $125 Million Program to Support Black Entrepreneurs Vice President Kamala Harris has introduced the Capital Readiness Program aimed at supporting Black entrepreneurs who often face funding disparities and difficulty in accessing capital. The program...

Industry News – August 24, 2023

Labor Market Sees Record Reservation Wage Levels The latest New York Federal Reserve employment survey indicates that the average minimum acceptable salary offer for job-switching has reached a record high of $78,645 in the second quarter of 2023. This marks an 8%...

Industry News – August 18, 2023

Ruling Changes SBA’s Disadvantaged Business Program A recent federal court ruling has led the Small Business Administration (SBA) to halt the automatic categorization of small businesses as disadvantaged based on the race or ethnicity of their owners when...

Industry News – August 10, 2023

Prime Lending Rate Hike Implications for Small Businesses and Borrowers Wells Fargo Bank has announced a prime lending rate increase from 8.25% to 8.50% effective July 27, 2023. This move signals higher borrowing costs for individuals and businesses, notably impacting...

Industry News – August 3, 2023

Texas Judge Temporarily Blocks Small Business Loan Rule In a recent ruling, a Texas judge granted a preliminary injunction, partially blocking the Consumer Financial Protection Bureau (CFPB) from enforcing a mandate requiring lenders to collect demographic data on...