Today's Date: January 29, 2023
ZILLOW GROUP INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers   •   The International Fellowship of Christians and Jews Celebrating 40th Anniversary in 2023   •   GINKGO BIOWORKS ALERT: Bragar Eagel & Squire, P.C. is Investigating Ginkgo Bioworks Holdings, Inc. on Behalf of Long-Term St   •   Dollar General Announces 19,000th Store Opening   •   CLEANSPARK INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers an   •   SPRUCE ALERT: Bragar Eagel & Squire, P.C. is Investigating Spruce Power Holding Corp on Behalf of Long-Term Stockholders and   •   "Extra-Strength" Formulation of Jeuveau® Demonstrates Effects Lasting 26 Weeks in Interim Phase II Data Results, Representin   •   Catholics for Choice on the Murder of Tyre Nichols: Black Lives Matter is a Pro-Life Issue   •   Susan G. Komen® Applauds House Introduction of Bipartisan Metastatic Breast Cancer Access to Care Act   •   Dame Shellie Hunt Founder of the Women of Global Change Honored with Humanitarian Doctorate in London   •   KIA AMERICA AND KIA GEORGIA CONTRIBUTE $100,000 TO THE AMERICAN RED CROSS OF GEORGIA IN SUPPORT OF TORNADO RELIEF INITIATIVES   •   CREDITORS COMMITTEE FILES REORGANIZATION PLAN FOR DIOCESE OF ROCKVILLE CENTRE; DIOCESE OF ROCKVILLE CENTRE FILES REORGANIZATION   •   AARP The Magazine Celebrates the 21st Annual Movies for Grownups® Awards   •   PALANTIR TECHNOLOGIES INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the   •   University of Phoenix College of Doctoral Studies Releases Whitepaper on Role of Demographics in Career Optimism   •   Trusted reusable nappy retailer commits to nationwide incentive scheme and eco education for first-time parents   •   THE DIOCESE OF ROCKVILLE CENTRE FILES PLAN OF REORGANIZATION   •   CORRECTING and REPLACING Vibrant Emotional Health Names Dr. Tia Dole as New Chief 988 Suicide & Crisis Lifeline Officer   •   Black CannaBusiness CEO Intensive and Multi-State Cannabis Company Parallel Launch 2023 National Education Series in Pittsburgh   •   GENERAC DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Gen
Bookmark and Share

New Funding Opportunities For Black Businesses


By Dante Lee, 

entrepreneur and the best-selling author 

WASHINGTON -- In September 2010, President Obama approved the Small Business Jobs Act - a new law that has become a very significant piece of small business legislation. The law extends the successful SBA enhanced loan provisions while offering billions more in lending support, tax cuts, and other opportunities for entrepreneurs and small business owners.

Now in 2011, those provisions have become to manifest themselves. Just recently, the U.S. Treasury Department approved more than $50 million to support lending to small businesses in the states of Connecticut, Missouri and Vermont. This might sound small, but that translates into $534 million in loans.

In an earlier round of funding this year, California, Michigan and North Carolina were approved for a total of $293.8 million. And guess what? As time goes on, the law provides that even more states will receive funding.

Being that African American business owners are disadvantaged in many ways, they should especially pay attention to what's happening and inquire locally at their banks and credit unions. A lot of this funding is being allocated to commercial loans, technology loans, and other loans for companies who have less than 500 employees.

Here are some other facts about the new law:

- The law eliminates the “Competitiveness Demonstration” program, which limited opportunities for small contractors in 11 industries where they excel, such as construction, landscaping and pest control.

- The law will provide $90 million in competitive grants over next three years for states to help small business owners with exporting (target rollout summer 2011).

- The law provides up to $50 million in grants to Small Business Development Centers across the country starting January 2011.




Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News