This week the US Congress approved $12 billion in funding for Community Development Financial Institutions (CDFIs) and Minority Designated Institutions (MDIs) as part of a $900 billion COVID-19 emergency stimulus funding package. The funding will expand… Continue reading
Archives for December 2020
Month: December 2020
Financial Times letter: Remember small business in the bank payout debate
Today’s Financial Times features this letter (registration required) from Responsible Finance board member, Peter Udale. Udale cites surveys suggesting half a million SMEs may not survive the year ahead. To survive and grow businesses depend on… Continue reading
Record business for Cornwall pasty-maker
Several years ago Mark and Lynne Norton borrowed £20,000 from our member SWIG Finance. Since then their business has increased its headcount from 19 to 96 employees – and played a crucial part in feeding families who were struggling this year. Continue reading
7,000 jobs and counting thanks to sector’s CBILS
Community Development Finance Institutions have played a crucial role protecting businesses, jobs and livelihoods in 2020. Many stepped-up their lending almost three-fold earlier this year to help address the COVID-19 crisis and protect viable businesses and… Continue reading
How Citi prize money transformed four businesses
At this time of unprecedented challenges to microenterprises the Awards made a tangible difference, protecting businesses, jobs and livelihoods. They have provided direct financial support which has enabled businesses and social enterprises to survive, thrive, pivot and adapt. And once again they celebrated the impact and achievements of responsible finance providers and the inspiring entrepreneurs they support. Continue reading
Three steps for a locally-powered recovery
Last week’s news of 25,000 jobs at risk after Debenhams and Arcadia Group fell into administration caused a collective gasp. Along with heartbreak over the loss of these jobs, many fear for the future existence of… Continue reading