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Second Round Of PPP Brings More Success For Some Minority-Owned Businesses


WFAE
Joe Momma s Pizza & Grill is one of the 60 Latino-owned businesses that secured a PPP loan through Prospera, a nonprofit organization that supports Latino entrepreneurs.
When the Paycheck Protection Program rolled out in 2020, much of the money went to big businesses with previously established banking relationships.
So in February, the Biden administration announced
updates to the second round of PPP loans. There were changes in eligibility and a two-week priority period for businesses with 20 or fewer employees. Lending institutions were also given a new formula to calculate loan amounts.
“We wanted to be sure that those who couldn t take advantage of PPP loans had a decent shot at doing so this year,” said Mike Arriola, acting district director of the North Carolina SBA office. ....

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Wells Fargo awarding millions to Charlotte organizations to advance economic mobility, improve racial equity


Wells Fargo awarding millions to Charlotte organizations to advance economic mobility, improve racial equity
Millions in grants go to Charlotte organizations
By WBTV Web Staff | May 5, 2021 at 6:07 PM EDT - Updated May 5 at 6:46 PM
CHARLOTTE, N.C. (WBTV) - Wells Fargo was joined by a lineup of special guests to make a huge announcement of millions in grants to be awarded to various organizations in Charlotte Wednesday.
In an event at Johnson C. Smith University, it was revealed that Wells Fargo is awarding $3.2 million in grants to various organizations to help them advance economic mobility, improve racial equity and support minority owned businesses and the next generation of entrepreneurs. ....

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