SBA: FY 2017 State Trade Expansion Program (STEP) Awards Announced
SBA Awards $1.9 Million to Expand Small Business Exporting in New England The U.S. Small Business Administration announced that $1.9 million in funding has been awarded to 6 State international trade agencies in New England through SBA’s competitive State Trade Expansion Program (STEP), to support export growth among U.S. small businesses. STEP is designed to…
CDFI Fund: U.S. Treasury Awards $208 Million for Investment Nationwide in Low-Income Communities
Funds Support Community Development and Revitalization Activity in Distressed Rural, Urban, and Native Communities The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 303 Community Development Financial Institutions (CDFIs) $208.7 million in awards today. The awards, through the fiscal year (FY) 2017 round of the Community Development Financial Institutions Program…
CFPB: Project Catalyst Collaboration with Credit Karma to Improve Understanding of Financial Well-Being
At the CFPB, we believe all consumers have the right to achieve greater financial well-being for themselves and their families. Over the past few years, we talked to consumers across the country to hear what they had to say about financial well-being and what it means to them. We learned that financial well-being means having…
ABA: Officers, Board Nominated for 2017-2018
The American Bankers Association’s Nominating Committee has selected the official slate of candidates for election at the association’s annual convention to be held in Chicago, October 15-17. The committee, chaired by R. Daniel Blanton, senior executive vice president, South State Bank in Augusta, Ga., nominated the following candidates for ABA officer positions: CHAIRMAN: Kenneth L….
HUD: $55 Million Awarded for Housing and Community Development Projects in 77 Native American Communities
Today, the U.S. Department of Housing and Urban Development (HUD) awarded $55.2 million to 77 Native American tribes throughout the country to improve housing conditions and to stimulate economic development in their communities. HUD’s Indian Community Development Block Grant (ICDBG) Program is a competitive program that supports a wide range of community development and affordable…
SBA: Regulatory Changes Finalized to SBA Surety Bond Guarantee Program
The U.S. Small Business Administration has noted two important changes to its Surety Bond Guarantee (SBG) Program that will increase contract opportunities for small contractors, supporting them to grow their business operations. The changes will become effective on September 20, 2017. The SBA will increase the guarantee percentage in the Preferred Surety Bond Program from…
SBA: FY 2017 State Trade Expansion Program (STEP) Awards Announced
The U.S. Small Business Administration today announced that $18 million in funding has been awarded to 44 State international trade agencies through SBA’s competitive State Trade Expansion Program (STEP), to support export growth among U.S. small businesses. STEP is designed to increase both the number of small businesses that begin to export and the value…
CFPB: Announces First No-Action Letter in Efforts to Support Consumer-Friendly Innovation
The Consumer Financial Protection Bureau (CFPB) today announced a no-action letter issued to Upstart Network, Inc., a company that uses alternative data in making credit and pricing decisions. As a condition of the no-action letter, Upstart will regularly report lending and compliance information to the CFPB to mitigate risk to consumers and aid the Bureau’s…
ABA: 9 in 10 Americans Rate Their Bank’s Service as Good or Excellent
Nine in 10 Americans with a bank account (89 percent) rate their bank’s service and support as “good,” “very good” or “excellent,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The same number say they are satisfied with their primary bank. The survey also asked consumers to…
SBA: $5 Million Awarded in PRIME Grants to Help Emerging Micro-entrepreneurs Gain Access to Capital
Funds Finance Training & Technical Assistance to Emerging Entrepreneurs; Capacity Building to Provider Organizations Thirty-four community-based organizations across the United States that provide assistance to disadvantaged entrepreneurs are set to receive a combined $5 million in grants from the U.S. Small Business Administration’s Program for Investment in Micro-Entrepreneurs (PRIME). These organizations help low-income entrepreneurs gain…