Yesterday the FDIC Board voted to conditionally approve Square’s application for deposit insurance related to its Industrial Loan Company (ILC) bank charter. Square has also received charter approval from the Utah Department of Financial Institutions.
The FDIC recently released a statement encouraging financial institutions with assets under $1B to modify loan terms for customers impacted by COVID-19, and guaranteeing assistance to meet regulatory reporting requirements.
CNN gives practical tips on how to support small businesses during these trying times.
Minority women are responsible for a large portion of that growth from 2014-2019, where ‘sidepreneurship’ among minority women-owned businesses was two times higher than others: 65% compared to 32%.
Source: Pride Publishing Group
The billionaire ‘Shark Tank’ star fielded questions on LinkedIn to help entrepreneurs brainstorm ways to keep their companies afloat and avoid layoffs.
In Fargo, North Dakota, a former football player turned businessman will create an online support group for other small business owners.
Massachusetts will give $75,000 to help revitalize small businesses.
Source: NBC Boston