Square Receives Conditional Approval of FDIC Insurance
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.
Source: Square
FDIC Releases Statement of Regulatory Relief
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.
Source: FDIC
How to Help Your Favorite Small Businesses Survive the Coronavirus Crisis
CNN gives practical tips on how to support small businesses during these trying times.
Source: CNN
Companies Owned by Women of Color Account for 89% of All New Women-owned Businesses
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.
Source: Inc.
Fargo Small Business Owner Creates Online Coronavirus Support Group
In Fargo, North Dakota, a former football player turned businessman will create an online support group for other small business owners.
Source: Inforum.com
Massachusetts Coronavirus Cases Up to 197 as State Moves to Help Small Businesses
Massachusetts will give $75,000 to help revitalize small businesses.
Source: NBC Boston
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