In the news...
California Insurance Commissioner Ricardo Lara on Wednesday announced the launched an “Invest in Our Diverse Communities” initiative to identify diverse woman-, veteran-, LGBTQ, Latinx, Asian Pacific Islander, Black, and Native American-owned investment managers who can guide investments made by insurers into socially responsible affordable housing and environmental projects across the state.
In April, Wells Fargo announced it would donate gross proceeds from the Paycheck Protection Plan to nonprofits working with small businesses.
This month, the bank has ramped up its efforts by unveiling the details of an approximately $400 million initiative to help small businesses impacted by the ongoing COVID-19 pandemic.
‘In This Together’ Campaign Aims To Invest $1 Billion in Minority Businesses Impacted By COVID
Dr. Benjamin F. Chavis, Jr., President and CEO of the National Newspaper Publishers Association (NNPA) announced today that he and the NNPA have agreed to assist the efforts of Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company, and MBE Capital Partners (MBECP), the largest certified minority-owned asset-based lender, in funding over $100 million in PPP loans.
The New Jersey Economic Development Authority (NJEDA) today announced that the Authority’s COVID-19 response efforts have supported more than 10,000 businesses since March 2020. In total, the Authority has provided more than $44.2 million in support to 10,624 businesses through grants, low-cost loans, and partnerships with investors and Community Development Financial Institutions (CDFIs).
On a recent sweltering afternoon, Akeem Dixon and Christine Brown stepped out of their North Philadelphia office to do something that’s become increasingly rare during the COVID-19 shutdown: in-person outreach.