Today's Date: March 19, 2024
Consumers Energy Expands MI Clean Air, Allowing Customers to Offset Carbon Emissions   •   UNLOCK SPRING LEARNING: THE TOY ASSOCIATION™'S NEW STEAM ACCREDITED TOY LIST OFFERS 25 ENGAGING TOYS FOR KIDS   •   NAREB PREPARES MEMBERS FOR MAJOR CHANGES TO HOME SALES AGENT COMMISSIONS AFTER LAWSUIT SETTLEMENT   •   Smarter AI for All: Lenovo Unveils Hybrid AI Solutions that Deliver the Power of Tailored Generative AI to Every Enterprise and   •   EverWind Fuels Praises Historic Canada-Germany Agreement to Sell Canadian Green Hydrogen   •   UL Solutions and SINAI Technologies Join Forces to Help Customers Enhance Decarbonization and ESG Performance and Reporting   •   EarthX to Feature Benji Backer, Author of "The Conservative Environmentalist," at Upcoming Congress of Conferences   •   Carlisle Companies to Acquire MTL Holdings, a Leader in Edge Metal and Non-Insulated Architectural Wall Systems   •   Center for Disease Analysis Foundation Announces First Round of Grantees for the CDAF-Relink Grant   •   Using Banuba SDKs Gives Businesses an Advantage in the Case of TikTok Ban   •   Cadence and NVIDIA Unveil Groundbreaking Generative AI and Accelerated Compute-Driven Innovations   •   SBS TO RECEIVE MULTIMILLION DOLLAR SETTLEMENT FROM VOZ MEDIA   •   Hyundai Showcases Refined-Rugged SUV Experience in New Asian American Campaign for the All-New Santa Fe   •   Statement by Minister Qualtrough on the Closing of the 2024 Arctic Winter Games in the Mat-Su Valley, Alaska   •   College of Saint Mary Selects YuJa Enterprise Video Platform as Campuswide Media Creation and Distribution Solution   •   Mitsubishi Electric Named to CDP Supplier Engagement Leader   •   New ASEAN Energy and ACTUAL Sign Cooperation Agreement to Develop Net-Zero Plan for the New $5B USD Pengerang Energy Complex   •   Spire Global to Enhance AI-Driven Weather Prediction in Collaboration with NVIDIA   •   Mbanq and The Financial Policy Council to Host: “Business Banking Battles – Big Value in the Face of Bank Industry T   •   TM Associates Announces Grand Opening of Luxury Affordable Apartment Community in DC, MDXL Flats Apartments
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