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Who is helping Texas businesses save jobs?

Ted Oberg

April 17, 2020 |

KTRK-TV |

Broadcast TV News |

Under 3 Minutes

Response Location: United States, Sugarland, Texas

Community banks in Texas have outpaced much larger national banks in approving and funding loans that are keeping businesses afloat during the pandemic-induced lockdown. The lone star state leads in the number of loans processed totaling $17 billion - saving a reported 200,000 jobs. Businesses in Texas have received more loans than any other state due to community banks that have been working around the clock. The banks have managed to approve as many loans as they typically would in an 18-month period.

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How to Rebuild a War-torn Middle Eastern City? Start with the Souk

Gregory Scruggs

April 15, 2020 |

Next City |

Text |

800-1500 Words

Response Location: Syria

A combination of agencies, charities, and business owners have been working toward the goal of rebuilding Syrian cities by focusing on souks, or markets, dating back centuries. Bringing the souks back to life was a relatively easy reconstruction project, free of legal complications, and vital to the communities' return to normalcy. Sticklers for historical accuracy argue that the original medieval architecture of the souks is impossible to recreate, therefore rendering it "totally fake," but those who are more concerned with repatriating refugees and rebuilding war-town Syria disagree.

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Local banks step up in the fight to keep Covid-19 economic calamity at bay

Larry Platt

April 03, 2020 |

The Philadelphia Citizen |

Text |

1500-3000 Words

Response Location: United States, Philadelphia, Pennsylvania

Throughout the economic crash of 2008, banks were "vilified" for their response, but as the economy again teeters on crashing during the coronavirus pandemic, regulators have been able to be proactive in their approach. While several banks are making financial contributions to philanthropies, and public health efforts or creating relief funds, others have agreed to temporary forbearance on certain types of loans which enables "local business owners and workers to defer payments without penalty to the end of their loan terms."

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Will Small Businesses Most in Need Get Help From the Coronavirus Relief Package?

Oscar Perry Abello

April 03, 2020 |

Next City |

Text |

1500-3000 Words

Response Location: United States, New York, New York

As small businesses, nonprofits, and independent contractors try to access funds made available through the federal government’s Paycheck Protection Program, bankers across the country are doing what they can to step up, follow federal guidelines, and process loans as quickly as possible. New features, including the SBA fully guaranteeing PPP loans, are making them more accessible. From typical SBA lenders to community development financial institutions to credit unions, many financial institutions are trying to help as many businesses as possible.

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First to Feel COVID-19's Impact, Chinatown is First to Deliver Aid for Small Business

Oscar Perry Abello

April 02, 2020 |

Next City |

Text |

1500-3000 Words

Response Location: United States, New York, New York

Renaissance Economic Development Corporation, a nonprofit loan fund in New York City, has helped Chinatown small businesses recover through 9/11 and Hurricane Sandy, and COVID-19 is the newest crisis it needs to navigate. It has been able to rely on its larger than standard loan loss reserve to have room for emergency loans to provide swift and integral support to Chinatown businesses.

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China's Venture Capitalists Start Making Deals, Amid Signs of Recovery

Yunan Zhang

March 31, 2020 |

The Information |

Text |

800-1500 Words

Response Location: China

China's economy has slowly begun to show signs of reopening and recovering, which has led some companies to begin fundraising. Consumer brands that saw an uptick in usage during the pandemic – such as an online grocery delivery startup, an online education tutor, and even an online makeup retailer – have so far been successful in their efforts to raise funds with investors saying that "in the current climate of uncertainty, they were more comfortable betting on the companies that are leading their industries."

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Mission-Driven Lenders Already Providing Assistance to Vulnerable Businesses During COVID-19

Oscar Perry Abello

March 26, 2020 |

Next City |

Text |

800-1500 Words

Response Location: United States, New York, New York

The Business Center for New Americans, a nonprofit that offers loans with a focus on immigrant-run businesses, is going above and beyond to make sure its lenders get through the COVID-19 economic crisis. They are offering tailored support on how to apply for Economic Injury Disaster Loans, sharing other grant and loan opportunities, and using its status part of the SBA’s Microloan Program to offer new loans.

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Bodegas and Corner Stores Are Part of Crisis Response — They're Also Uniquely Vulnerable

Oscar Perry Abello

March 19, 2020 |

Next City |

Text |

800-1500 Words

Response Location: United States, New York, New York

Amidst the COVID-19 crisis, bodegas offer local supplies in many food deserts across the country. While the bodegas struggle to find funding and stay in business for their neighborhoods, they also fight their way into policy discussions and micro-loan programs to stay afloat for low-income neighbors needing healthy food options.

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How design-build coops are creating a new economy in New England

Chad Small

February 29, 2020 |

Co-operative News |

Text |

Under 800 Words

Response Location: United States, Massachusetts

Design-build coops are employee-owned businesses operated under a democratic business model that "considers people, planet, then profit." These coops have steadily increased in New England resulting in workplaces that have a smaller pay-gap between the highest and lowest paid employees of a company, motivates employees who are invested in the long-term success of a company, result in companies better equipped to weather recessions and in turn, allow for more focus on green design models.

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Leveling the Playing Field

Jessica Press

February 24, 2020 |

The Philadelphia Citizen |

Text |

800-1500 Words

Response Location: United States

Black Girl Ventures levels the playing field for women of color who seek capital for their business ventures. Entrepreneurs are invited to pitch their ideas at crowdfunded sessions, which means the funding varies depending on the size of the crowd and its willingness to invest. In addition to capital, BGV recognizes the need for minorities to access a network, mentoring, and business coaching to navigate the systems necessary to build a business. The nonprofit has chapters in several cities and works with local organizations that are already in place helping black businesses.

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