SC s only Black-owned bank receives multi-million equity investment from Wells Fargo Laurryn Salem, The State (Columbia, S.C.)
Feb. 12 South Carolina s only Black-owned bank, which traces its history to 1921 recently received a $3 million investment from one of the world s largest banks.
Wells Fargo announced equity investments in Optus Bank of Columbia and along with five other Minority Depository Institutions nationally.
With the capital from Wells Fargo, Optus Bank can be more equipped to help local minority communities by offering more small business loans, mortgage loans, financial education and a larger deposit-taking capacity. This growth can help meet the bank s mission to serve those previously unbanked, underbanked and historically underserved.
Wells Fargo is investing in six Black-owned banks including one in North Carolina and one in South Carolina as part of a $50 million pledge to help minority institutions and a “larger commitment to foster an inclusive recovery.”
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
UPDATE: SBA and lenders take more steps to improve Paycheck Protection Program
United States Small Business AdministrationFebruary 11, 2021 GMT
Washington, Feb. 10, 2021 (GLOBE NEWSWIRE) Today, the U.S. Small Business Administration and lenders are taking more strides to improve the Paycheck Protection Program (PPP) so that small businesses can access much needed PPP funds to persevere through the pandemic, recover, and build back better. The Administration is working with the Agency to increase equitable access to underserved small businesses, to assure the integrity of the program, and to promote rapid and efficient distribution of funds.
SBA, Lenders Take More Steps To Improve 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.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
SBA and lenders take more steps to improve Paycheck Protection Program
United States Small Business AdministrationFebruary 10, 2021 GMT
Washington, Feb. 10, 2021 (GLOBE NEWSWIRE) Today, the U.S. Small Business Administration and lenders are taking more strides to improve the Paycheck Protection Program (PPP) so that small businesses can access much needed PPP funds to persevere through the pandemic, recover, and build back better. The Administration is working with the Agency to increase equitable access to underserved small businesses, to assure the integrity of the program, and to promote rapid and efficient distribution of funds.