Heard on the Street – here’s what we were reading last week:
‘Scared about the future’: Female small-business owners face extra hurdles during pandemic shutdowns: Women who run small businesses face a unique set of stressors as the pandemic continues, threatening the viability of their companies as well as the nation’s economic growth, experts say.
Fed lowers minimum loan level for small business lending program: The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility. The central bank will also ease restrictions on debt for companies already participating in the Paycheck Protection Program.
PayPal Invests in Racial Equality: PayPal will invest more than $50 million in eight Black- and Latino- led venture capital firms. It follows millions in grants that PayPal has given to Black-owned businesses affected by the pandemic or protests and Optus Bank, a Black-focused lender.
Why investing corporate cash to close racial wealth gaps can shore up long-term growth: Corporations need to respond with investment strategies that promote economic opportunities in disinvested communities and among underserved populations if they want to support a stronger and larger marketplace for the future.