California recently became just the second state, and the first in 100 years, to legalize government-owned banking. The law authorizes municipalities to open their own banks. Those public banks could then invest in projects that are deemed to be in the public interest.
Source: American Banker
Black Business Boom is designed to help black-owned business that may lack the capital to spend on marketing. The app provides users with coupons for over 400 black-owned businesses, information about their events and promotions.
Source: News One
Affirm, based in San Francisco, was founded in 2012 by Max Levchin, a serial entrepreneur who co-founded PayPal. Rather than offer a line of credit to be used at will, like a credit card, it gives loans of up to $15,000 for specific purchases, to be repaid in pre-agreed instalments.
Source: The Economist
The NFIB uncertainty index has gone up 6 points over the past several months. This uncertainty mainly revolves around Fed actions, tariffs, and the overall political climate.
Source: Yahoo Finance
The average revenue of Latino-owned businesses increasing to $479,413 from $327,189 in 2018, according to Biz2Credit’s annual study. Meanwhile, the number of credit applications from Latino-owned businesses increased by 23% over the past 12 months.