Today's Date: February 26, 2021
NASA Celebrates 'Hidden Figure' Mary W. Jackson With Building Naming Ceremony   •   Children's Minnesota receives heart transplant certification   •   During Texas Storm, New Haven Assisted Living Served Seniors   •   New Study Reveals Baby Boomers Turning to International E-Commerce, but With Different Expectations Than Younger Consumers   •   Crown Royal Leans Into Legacy With Coming 2 America To Launch A Limited-Edition Pack Designed By Oscar-Winner Ruth E. Carter   •   BANDIER Now Available on Amazon   •   AARP Members Frustrated with Pennsylvania's COVID-19 Vaccine Distribution Efforts, Survey Shows   •   Connie Stacey Wins The Forum’s 2020/21 Pitch for the Purse, $50,000 Prize   •   BlackNorth Initiative's Dahabo Ahmed-Omer Earns Inaugural Business Changemakers Award From the Globe and Mail’s Report on   •   Lies Travel Faster Than Truth in New Peaky Blinders Card Game from Steamforged Games   •   Casting Workbook Español Launched as Part of New Global Expansion Effort to Support Spanish Talent Worldwide   •   Vaquero Private Wealth Increases Its Dallas Presence With the Addition of The Maynard Group   •   Canada, British Columbia and Tlowitsis Nation Advance to Final Stage of Treaty Negotiations   •   Residents of Market Street Memory Care East Lake Celebrate their 2nd Annual Market Street Winter Olympic Games   •   Children's Museums Mobilize to Serve Children and Families during COVID-19   •   Western Union Foundation Supports Career & Leadership Pathways for Migrant and Refugee Youth   •   Citizens for a Pro-Business Delaware Launches Mobile Billboard to Expose Racial Inequality in the Chancery Court   •   Trust the Leader in Online School: Insight School of Kansas Accepting Enrollments for 2021-2022 School Year   •   Essilor Vision Foundation and Walman Help Bring Vision Care to People Who Need It the Most   •   Trulieve Partners with the Thurgood Marshall College Fund to Provide College Scholarships
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