Small business lending typically relies more heavily on the owner’s credit score or personal assets. Given that the median wealth of white households is 41 times greater than black families, the financing gap is quite pronounced.
Source: Banking Dive
The Kresge Foundation seeks to spur socially responsible investing in opportunity Zones through covenants and reporting structures that encourage transparency, accountability, and disclosure.
Source: Inside Philanthropy
The definition of a small business is often ambiguous both to regulators and to banks. For micro-enterprises, it can be especially tricky for financial service providers to correctly size their product offering to the client.
82 percent of small business borrowers expected no change or a tighter credit market in the coming months. The Federal Reserve decided to prove them wrong by cutting rates. Now the question is, who is right?
While many are talking about a slowing economy and possible signs of a recession, the third largest economy in the world continues to defy expectations, generating output, creating value and expanding the economy, says NFIB President.
Source: ABL Advisor