Students dedicated to making a positive difference in the world offer the greatest hope for the future, but for many their plans are threatened due to the unexpected financial gap posed by COVID-19 – sometimes prohibiting them from continuing and completing college. Wells Fargo wants to help close that gap by launching the Wells Fargo Student Impact Scholarship. This new initiative will provide 200 students with $5,000 each – funds that could help them cover various costs for their instruction and potentially make the difference in being able to continue their education. Wells Fargo’s commitment will go beyond financial assistance to include an optional mentorship opportunity to provide ongoing guidance for these students.
Browsing: Business
From eliminating the debt of Morehouse College graduates to providing resources for Black-owned businesses that were significantly impacted by the COVID-19 pandemic, businessman Robert F. Smith has used philanthropy as an avenue to uplift and empower disenfranchised communities. One of his latest projects is focused on Black men’s health. The Vista Equity Partners founder is joining forces with the Prostate Cancer Foundation to address racial disparities surrounding prostate cancer.
This regulatory reversal represents a financial favor to pay-day and car-title lenders, and certain harm to consumers who are just a few hundred dollars short for their monthly expenses. In very real and measurable ways, the agency created to protect consumers gave a green light to predatory lenders to continue to prey upon the nation’s poorest and most vulnerable consumers.
“We realized early on that small businesses were taking the brunt of what was happening with COVID-19 and the economic slowdown that occurred,” said Jenny Flores, Wells Fargo’s head of small business growth philanthropy.
Ford ‘Promise’ Offers Peace Of Mind To Potential Car Buyers And Lessees With One Year To Return Vehicle In Event Of Job Loss
In response to the economic distress caused by the COVID-19 coronavirus pandemic, the CARES Act on March 27 increased the eligibility limit for small businesses looking to file under subchapter V from $2,725,625 of debt to $7,500,000. The threshold will return to $2,725,625 after 1 year.
As the remaining days dwindle for small businesses to apply for loans through the federal Paycheck Protection Program (PPP), both banks and federal officials are being challenged by several House leaders to explain how the $670 billion program intended to aid the nation’s small businesses has actually been operating.
Mainstream Media Ignores Black Unemployment Rising While Celebrating Jobless Rate
Meet Kiko Davis, the majority owner and stockholder of Detroit-based First Independence Bank, one of the top 10 largest Black-owned banks in the United States. This makes her the only Black woman in the country who owns a bank.
OneUnited Bank, the largest Black owned bank in the country, is proud to support #BlackOutDay2020, a national financial movement happening on Tuesday, July 7, 2020. The movement recognizes the need for economic solidarity and requests that not one Black person in America spend a dollar outside of Black owned businesses on July 7.