N.J. foundation invests $1M for unconventional loans to support Black-owned businesses
Updated Mar 12, 2021;
Posted Mar 10, 2021
Monday, March 10, 2021 - The Pascale Sykes Foundation commits $1,000,000 to the African American Chamber of Commerce of New Jersey (AACCNJ) and New Jersey Community Capital (NJCC) to expand entrepreneurship opportunities for black-owned businesses. At left, John Harmon Sr., Founder, President, and CEO, African American Chamber of Commerce of NJ delivers remarks.In back from left are Wayne Meyer, president of New Jersey Community Capital and Frances P. Sykes, president, Pascale Sykes Foundation.
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The Pascale Sykes Foundation, an organization formed to help working class families thrive, announced Wednesday it is investing in Black business enterprises in New Jersey.
Joe Biden Wants To Make You Pay Off Rich People’s College Debt
February 25, 2021
Joe Biden has proposed wiping out student loan debt for millions of student loan borrowers. Biden wants to make taxpayers pay off all undergraduate federal student debt for borrowers who earn an income of less than $125,000 per year and who attended a public college, a “historically black” college,” or a “minority-serving institution.”
On Election Day, Senate Minority Leader Chuck Schumer, D-N.Y., urged Biden to enact a plan, authored by him and Sen. Elizabeth Warren, D-Mass., to eliminate up to $50,000 in borrowers’ student loan debt by executive order. Warren and Schumer have since renewed that call, and dozens of Democrats reintroduced a bicameral resolution earlier this month urging Biden to take such action.
$100M fund for Black and Latinx business owners expands to 7 more N.J. cities
Updated Feb 19, 2021;
Posted Feb 19, 2021
The FAM Fund expanded and now has the support of Newark Mayor Ras J. Baraka, East Orange Mayor Ted R. Green, Trenton Mayor Reed Gusciora, Camden Mayor Frank Moran, Paterson Mayor André Sayegh, Atlantic City Mayor Marty Small, Irvington Mayor Tony Vauss, and Orange Township Mayor Dwayne Warren.via Zoom
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Seven more mayors across New Jersey are on board to help create a $100 million philanthropic fund to support Black and Latinx business owners and real estate developers.
The idea first started in Newark last year in September. Now, mayors from Orange, East Orange, Paterson, Camden, Trenton, Irvington and Atlantic City are helping to call on the private sector to contribute to the fund and assist their residents too.
Risk.net
Tech vendors played a key role as markets – and market participants – adjusted to Covid-19
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A year into the Covid-19 pandemic, it is clear that the technology sector has been one of the big beneficiaries of changing consumer and corporate behaviour. That doesn’t mean it’s been easy for tech providers to embrace the opportunity.
As an example, take the surge in cloud usage driven by a newly minted army of home-workers: Microsoft saw usage of its Teams videoconferencing and collaboration application skyrocket, as well as its virtual desktop and Xbox Live gaming, creating unprecedented demand for its Azure cloud platform on which these applications operate. In addition, Microsoft had to hive off capacity for organisations providing emergency, medical, research and other pandemic responses.