skip to Main Content

Juvia’s Place Announces $300K in Grants to Black Entrepreneurs

  • Cosmetics brand Juvia’s Place, started by Black entrepreneur with $2,000 in capital, announces six $50,000 grants to Black-owned businesses
  • Company says Black entrepreneurs are often vulnerable to “debt traps” when starting a business
  • Deadline to apply is Aug. 31
Read more

What Small Business Loans Are Available After the Expiration of PPP?

  • The Paycheck Protection Program has expired, and banks have been more reluctant to approve loans to small businesses
  • Businesses have cut back on investments and expenses, but also worry about survival if economic conditions do not improve in the near future
  • Certain loan programs, including options through the Small Business Administration and Federal Reserve, provide continued avenues of support
Read more

Diminished Supply and Demand Cause Tighter Loan Market for Small Businesses

  • The Paycheck Protection Program gave out billions in loans to small businesses suffering from the effects of the COVID-19 pandemic, but other business loans are becoming scarcer
  • Less than one in four loans were approved in July, compared to pre-pandemic levels of around 50 percent
  • Banks are less willing to take on the risk of lending to businesses, while companies have also held off on investment plans
Read more

Citizens Bank Announces Grant Program for Minority-Owned Small Businesses

  • $1.5 million in grants to be awarded across the 11 states Citizens Bank serves
  • Program includes partnership opportunity with SCORE
  • Deadline of Aug. 7, with grants distributed in September
Read more

Thousands of Theaters Join Call to “Save Our Stages”

  • Live music venues call on fans to join call to “Support Our Stages” with bipartisan $10 billion relief bill
  • Theaters have been hard-hit due to show cancellations and a lack of viable revenue alternatives during COVID-19 pandemic
  • National Independent Venue Association estimates nine out of 10 theaters may close in the next couple of months if situation continues
Read more

1 in 3 Small Business Owners Tapped Personal Funds to Stay Afloat During Pandemic

  • Thirty-five percent of small business owners in recent survey say they used savings or personal credit cards to help cover expenses during COVID-19 pandemic
  • Seventy percent use some form of assistance, such as PPP or business savings account
  • Most small businesses are hoping for increase in sales to stay in business or meet growth targets
Read more

Fed’s Main Street Lending Program Extended Through End of Year

  • Federal Reserve lending facilities that were set to expire on Sept. 30 extended through Dec. 31
  • Extension occurs amid rising jobless claims and severe contraction of U.S. GDP in second quarter of 2020
  • Substantial five-year loans offered at low interest rates, but with several restrictions
Read more

What The Proposed Coronavirus Relief Bills Would Do For Agriculture

  • Both the HEALS Act and HEROES Act propose billions of dollars in funding for agricultural producers affected by COVID-19
  • Bills include relief for meat producers forced to euthanize healthy animals due to backlog in animal processing
  • Agricultural processors such as textile mills and ethanol plants would also see financial support
Read more

What the Proposed HEALS Act Means for Businesses and Workers

  • Senate Republicans’ proposal for continued COVID-19 relief would provide additional stimulus while reducing unemployment supplement
  • Second round of Paycheck Protection Program would focus on small businesses
  • Additional funds aim to relieve workers of child care burden
Read more

Restaurants Advocate Relief Funds, Multi-Decade Loans as Survival Strategies Against COVID-19 Downturn

  • Restaurant industry report says 85 percent of independent restaurants could be forced to close if relief is not forthcoming
  • One plan calls for $120 billion to support restaurants, but others support loans with extremely long terms
  • Restaurant workers make up largest category of newly unemployed as industry faces an “existential crisis”
Read more