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The FINANCIAL Bank of America announced today that it has directed more than $22 million in philanthropic funding to support education, jobs, entrepreneurship, health and housing and for people and communities of color as the company continues to deliver on its $1 billion, four-year commitment to advance racial equality and economic opportunity. These grants build on the $250 million in philanthropic funding the company allocates annually to nonprofit partners that address critical needs in the communities they serve according to Bank of America.
“Workforce development, job creation and access to health and housing services are some of the most pressing needs facing Black, Hispanic-Latino and Native American individuals,” said Ebony Thomas, Bank of America’s Racial Equality and Economic Opportunity Executive. “By providing this support alongside our national and local partners, we are further addressing many of the challenges facing under-resourced and unders
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Many businesses the Greater Quad Cities Hispanic Chamber of Commerce has worked with have seen reduced foot traffic during the pandemic. Small businesses even more so. This second round of PPP has increased funding to small businesses (ten or fewer employees) by about 60 percent.
The Biden administration has changed some rules for the Paycheck Protection Program, which made attaining funds easier for some minority-owned businesses in the region.
Janessa Calderon, the executive director of the chamber, said since that time is set aside specifically for smaller businesses, it s going to allow these small businesses, nonprofits and self-employed individuals to remove any access restrictions in their way and receive the financial support their business needs.”
SBA prioritizes smallest of small businesses in the Paycheck Protection Program
Steps taken to promote equitable relief for mom-and-pop businesses
From U.S. Small Business Adminsitration WASHINGTON – Building on a month of strong results, the Biden-Harris Administration and the U.S. Small Business Administration are taking steps with the Paycheck Protection Program to further promote equitable relief for America’s mom-and-pop businesses. The latest round of Paycheck Protection Program funding opened one month ago and already the Biden Administration has succeeded in making major improvements to the program’s implementation: • For businesses with fewer than 10 employees, the share of funding is up nearly 60 percent
SBA Prioritizes Smallest Of Small Businesses In Paycheck Protection Program oswegocountytoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oswegocountytoday.com Daily Mail and Mail on Sunday newspapers.