As you are thinking about applying for a business loan, whether as a startup or an existing business owner with years of experience running a business, it is important to consider and review the following steps prior to submitting your application to maximize your chances of success in securing capital for your business. 1. Understand
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Vox, May 2, 2024, What If Canceling People’s Medical Debt Doesn’t Help Them? Four in 10 Americans carry some kind of medical debt, an affliction that is unique to the United States among wealthy nations. The country does not guarantee medical insurance to everyone, and the costs even to people who carry coverage are much higher on average than they
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New York Post, April 25, 2024, Queens Hotel Begins Its Transformation Into Affordable Housing The 350-room JFK Hilton is well on its way to becoming perhaps the only byproduct of a program intended to convert hotels into permanent residences for low-income and formerly homeless New Yorkers, according to Gothamist. The property — located next to the
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Planetizen, April 28, 2024, Feds Issue New Energy Efficiency Standards For Affordable Housing A new set of building codes for affordable housing developments funded by federal dollars target energy efficiency, reports Kriston Capps for Bloomberg CityLab. “The standards will translate to lower costs for households least able to afford high energy prices, according to federal officials. Lower-income
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The Washington Post, April 29, 2024, Rent Caps May End In Prince George’s. Tenants Are Organizing A Fight. Housing affordability is a pressing issue for legislators in Prince George’s, a majority-Black suburb bordering D.C. Black and Latino renters stand to be disproportionately affected by rent hikes here, where despite pockets of affluence, 10 percent of
The Garden Island, April 30, 2024, Capital One To Buy Discover For $35 billion Consumer groups are expected to put heavy pressure on the Biden Administration to make sure the deal is good for consumers as well as shareholders. “The deal also poses massive anti-trust concerns, given the vertical integration of Capital One’s credit card
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Black News Portal, April 27, 2024, Breaking The Cycle: Dismantling Systemic Barriers To Minority Funding Op-Ed By J. Byron Brazier Local branches allow entrepreneurs to establish personal, trusting relationships with bankers, and those bonds can be a boon to small-business owners seeking financing. Banks consider “soft information” about business customers’ creditworthiness—qualitative data gathered over the
American Banker, April 23, 2024, Climate Change, Stifled Mergers And Other Challenges Facing Banks And Investors Community benefits plans have become commonplace in connection with acquisitions as banks seek to outline to regulators how their deals will satisfy Community Reinvestment Act requirements. Such agreements often include pledges to expand banking services in low- and moderate-income
As we celebrate Women’s History Month this March, NCRC would like to acknowledge all the amazing work and accomplishments women have achieved. At NCRC, we are proud to have many strong and hardworking women advocating for a Just Economy for all. Each of them plays a crucial role in creating a more inclusive society. And
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Consumers’ ability to share their data held at their banks has become necessary to access many financial services. NCRC’s Just Economy Pledge includes a commitment to ensure that individuals own their personal data, control who has access to it, and are treated fairly by anyone who does.[1] The scope of consumers’ rights regarding the sharing of
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CSRwire, November 17, 2023, Thought Leaders Gather For Critical Community Development Conversation At PNC’s Second Annual Community Leadership Symposium Moderated by PNC’s Chief Diversity Officer Gina Coleman, Retail Banking Alex Overstrom and head of C&IB Mike Lyons, a series of panel conversations centered around compelling community investment topics emphasizing best practices in economic inclusion, affordable
Banking Dive, November 15, 2023, First Citizens Unveils Updated $6.5B Community Benefits Plan The updated plan comes as a “huge relief” for the communities that stood to lose out on the investments following SVB’s collapse in March, Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said in a statement Tuesday. “First Citizens is
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The Washington Post, November 17, 2023, Our Kids Don’t Want Our Paid-Off House — Or Our Ashes In 1940, the Black homeownership rate was 22.8%, nearly half of the 45.6% for Whites, according to the National Community Reinvestment Coalition. Until 1968, homeowners and real estate agents could legally refuse to sell homes to African Americans
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Yahoo Finance, November 14, 2023, First Citizens Announces Expanded Commitment To Communities In Northern California And Eastern Massachusetts First Citizens Bank today announced an amendment to its existing Community Benefits Plan agreement with the National Community Reinvestment Coalition (NCRC) and its members that extends the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of
American Banker, November 14, 2023, First Citizens Unveils Revised SVB Community Plan Worth $6.5 Billion National Community Reinvestment Coalition Chief Executive Officer Jesse Van Tol called the agreement a “huge relief” for the communities that stood to benefit from SVB’s earlier community benefits plan. NCRC is one of the organizations that signed the deal with
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