JPMorgan Chase Invests $600K in Small Business Loan Access Platform from Diddy, Harbor Bank
The investment will go to OurFairShare.com, which was created through a partnership between Harbor Bank of Maryland Community Development Corporation and Combs Enterprises. The platform is designed to guide business owners through the aid programs such as the federal Paycheck Protection Program.
Trump Administration Vows More Relief for Low-Income Communities
Trump administration officials said they’re ensuring that at least $10 billion from a coronavirus relief program for small businesses is loaned by private institutions that serve low-income communities with scant access to traditional banks.
Source: The Washington Post
US Bank Regulator Finalizes Controversial Community Lending Rule
The US Comptroller of the Currency finalized controversial changes to legislation aimed at ensuring that banks make loans available in the neighborhoods where they take deposits.
Source: Financial Times
SBA Issues New Regulations for Women-Owned Small Business Federal Contracting Program
The U.S. Small Business Administration published Women-Owned Small Business Federal Contracting program regulations that will provide a free, online certification and eligibility application process for women-owned small businesses and economically disadvantaged women-owned small businesses.
Source: Business Day
Small Business, Big Mission: American Dreams Disrupted
A Business Journals special report showcases the resilience of small business owners across the country through vignettes of their experience with COVID-19.
Source: Biz Journals