Scale Link News Today

Truist Charitable Fund Names 17 New Grant Recipients

Funding will impact over 10,000 individuals across 13 states CHARLOTTE, N.C., Feb. 14, 2024 /PRNewswire/ -- Truist Financial Corporation today announced the initial recipients of its Truist...

By bundling and selling CDFI microloans to banks, Scale Link hopes to increase capacity for other CDFIs across the country.

Small Business Majority just launched a way for small businesses looking for funding to be matched with CDFIs and a variety of other outfits offering support.

Minnesota is preparing to make use of more than $650 million in federal aid to bring high-speed internet to underserved populations. Rural areas often lack broadband access, and the extra support is seen as a pathway to well-paying jobs in smaller communities. The Biden administration announced last month exactly how much broadband funding states would get from the bipartisan infrastructure law. ...

General Motors is touting its return to the top in 2022 as the largest automotive manufacturer in America while it also takes a victory lap to remind Hoosiers of the "integral" role it plays in Indianas economy. Cheryl McCarron, director of communication relations for General Motors, said the automaker employs 6,100 employees here but the study reveals each job spins off additional jobs in the sector. "Part of what Oxford Economics does, they [ask] how many jobs do ...

A new system of bundling and reselling small-business loans is funneling millions to companies owned by women, people of color, immigrants and others who are often excluded from the financial system. Community development financial institutions - known as CDFIs - focus on small loans of $5 to $250,000 sometimes even if the business has not started turning a profit. Brett Simmons, managing director at Scale Link, said the nonprofit buys loans from CDFIs and bundles them for larger banks lookin...