President Biden Calls for Stricter Rules After Recent Bank Failures

President Biden called for stricter Federal banking regulations after the recent collapse of several high-profile banks in the U.S. Many of the proposed changes would not require new legislation. 



Banks Will Be Required to Report Small Business Loan Application Data Per New Rules

The Consumer Financial Protection Bureau (CFPB) will require banks to start reporting demographic and income information for small business loan applications. The new rules are designed to help prevent discriminatory decisions by banks against minority business owners.

Source: AP News


Small Business Administration Announces Small Business Investment Companies of the Year

The Small Business Administration (SBA) recently announced two companies as Small Business Investment Companies of the Year. Stonehenge Community Impact Fund and Balance Point Capital Partners were recognized for their work helping provide capital funding solutions for growing companies.

Source: Global Trade Magazine 


North Carolina-Based CDFIs Set to Receive $3.3 Million in Funding

The NC Rural Center will distribute $3.3 million to six CDFIs located throughout the state. The funding comes from an overall $5 million grant recently approved by the North Carolina General Assembly. 

Source: The Southern Scoop


Tips on How to Create an Ideal Business Name

Creating the best business name for any venture is a crucial first step for any new company. Here are several tips on how entrepreneurs should best proceed when developing a business name.

Source: Small Business Trends