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Showing posts from June, 2020

Ways/tips to support and help black-owned small businesses

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List of ways/tips to support and help black-owned small businesses: https://www.finimpact.com/blacklivesmatter-support-black-owned-small-businesses/

Black Bank Survey

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We are conducting a customer satisfaction survey on Black Banks To participate, see:  https://www.surveymonkey.com/r/YQZXZY7 Questions include: 1. How frequently do you utilize Black-owned Banks? 2. What is your overall satisfaction level when dealing with Black-owned banks? (5 starts - highest). 3. Have you had success in getting  loans, etc. from Black-owned Banks? 4. Are/were you worried about the financial stability of Black-owned banks? 5 .   Do you believe that Black-owned banks prioritize your needs? For a list of Black banks, see: https://www.minoritybank.com/research/blackbanks.html See: The country’s last black-owned banks are in a fight for their survival. https://www.washingtonpost.com/news/wonk/wp/2015/02/13/the-countrys-last-black-owned-banks-are-in-a-fight-for-their-survival/ 2011 - Crisis - The Current State of #BlackBanks  https://www.prlog.org/11541435-crisis-the-current-state-of-black-banking.html  2016 - Creative Investment released an analysis

Is capital haul too much of a good thing for Black-run banks? By John Reosti, American Banker Newspaper, June 24, 2020

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An effort encouraging investors to buy stock in Black-run banks could create new challenges for the leaders of those companies. The Buying Black movement, which took root last week, led to sharp increases in the shares of companies such as Broadway Financial in Los Angeles, Carver Bancorp in New York and M&F Bancorp in Durham, N.C. An influx of new investors could increase pressure to improve shareholder returns, while any strategic effort designed to generate higher profits could also draw a backlash. At the same time, markets are fickle — most shares in Black-run banks have fallen significantly in recent days as some existing shareholders cashed out. Indeed, Broadway's biggest investor — who had been pushing for the company's sale — abruptly sold all of its stock after the value of its holdings soared. Leaders of Black-run banks contend that what they need more than capital is more partnerships with bigger banks to extend their reach to underserved custo

American Corporate Responses to Black Lives Matter now total $4.628 billion.

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American Corporate Responses to Black Lives Matter now total $4.628 billion. See our crowdfunding campaign...Help make it happen for American Corporate Responses to Black Lives Matter on @indiegogo https://lnkd.in/gmWFprW

$60 Billion in Additional SBA Grant Funding

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On June 15, 2020, the SBA announced they were restarting the EIDL program with an additional $60 billion in funding.  Independent contractors, freelancers, and gig workers can receive a $1,000 grant which you do not have to repay.  Small businesses can apply for a grant of up to $1,000 per employee. Maximum $10,000.  Loans from $150,000 to $2,000,000 may also be available. Apply at covid19relief.sba.gov See the video at right for more information.

Tracking American Corporate Donations to Black Lives Matter

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The Current Crisis

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Five months ago, our nation was made host to a virulent, deadly visitor, brought to this continent surreptitiously. A new virus, uncovered in China, unsparing in occurrence. Now we are engaged in a great experiment, testing whether any nation with fearsome, monstrous divisions based on race and wealth, can survive in the face of such a disease. We have come to give our testimony while we still can, in an increasingly authoritarian environment. We do so to support the survival of all who participate in this society. We are writing not as people of wealth and privilege but as ordinary people, like the medical and public safety workers who gave their lives that this nation might live. As citizens of the world, we have an obligation to speak out. As citizens of the US, we have the right to do so. We offer an independent viewpoint, having gained insight from American history – in this case, Black Wall Street/Tulsa, Oklahoma. Our perspective helps us better understand the exact natur

If we are honest....

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The Intersection of ESG & Covid-19, Lana Feteiha, Impact Investing Intern

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COVID-19 has forever altered standard business practices. Prior to recent events, Environmental, Social, and Governance efforts have been an afterthought. But the global pandemic demonstrates the fundamental role that ESG plays in corporate investments. The presentation focused on three main points: corporations’ social responses and disclosures to stakeholders regarding ESG factors, how investors incorporate ESG factors into business decisions, and how this crisis will affect what happens next. The first speaker, Martin Whittaker, is the CEO of Just Capital; a non-profit organization that strives to create a more just market in America through the collection of data. Whittaker discussed the importance of corporate social responses in today’s climate by addressing the Environment and Social aspects of the crisis. COVID-19 has resulted in hazardous working conditions, so companies should be prioritizing the wellbeing of their employees. According to Whittaker, the proper treatmen

Maybe the U.S. Small Business Administration (SBA) wasn’t best choice to deliver PPP benefits to minority businesses.

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"Committed though the government might be too small and minority-owned contractors, from the contractor standpoint making a living is never easy. Now they’ve got the COVID-19 situation. For what the landscape looks like for minority-owned businesses, Federal Drive with Tom Temin turned to Creative Investment Research economist and principal William Michael Cunningham." https://federalnewsnetwork.com/management/2020/05/maybe-sba-wasnt-best-choice-to-deliver-ppp-benefits-to-minority-businesses/