Heard on the Street: small business still struggling to secure capital, and more corporations commit to closing the racial wealth gap

By November 16, 2020 Heard on the Street

Heard on the Street – here’s what we were reading last week:

For Small-Business Owners, a Shifting Landscape of Resources: Small businesses across the country have been pounded by the pandemic. With the end of the Paycheck Protection Program loan program, entrepreneurs are forced to look elsewhere.

Small Businesses Find Capital Hard To Secure: Securing small business funding remains challenging at the moment. Many business owners are refraining from applying for credit because they are unsure if their ‘forgivable’ Paycheck Protection Program (PPP) loans are forgiven.

BMO pledges $5.1B toward closing racial wealth gap: BMO Financial Group is pledging $5.1 billion over the next five years to counter the racial wealth gap in the U.S. and make economic recovery more inclusive. The majority of the commitment will go toward community reinvestment in affordable housing and neighborhood revitalization.

The Impact Of Covid-19 On Black And Latino Small Businesses: Q&A with the NY Federal Reserve and the Latino Business Action Network on how COVID-19 has been impacting Black and Latino small businesses.