Almost 75% of small businesses in a survey applied for help from a federal loan program designed to keep workers employed during the coronavirus pandemic, but only 38% of small businesses received any money, according to survey results the U.S. Census Bureau released Thursday. Oil extraction and mining businesses had the best...
Need a Small Business Loan? Details on City/Fed Programs.
Small businesses in Fresno struggling because of COVID-19 pandemic will able to apply for loans up to $10,000 as part of a new city program. Mayor Lee Brand, along with the co-authors of the "Save Our Small Businesses Act," councilmembers Mike Karbassi and Esmeralda Soria, provided details at a Monday afternoon...
Meet the Educator Behind Washington Monthly College Rankings
By Bryan Keogh Economics & Business Editor Robert Kelchen, a scholar of higher education, oversees the college rankings at Washington Monthly. The magazine’s rankings are meant to provide an alternative to the more popular college rankings put out each year by U.S. News & World Report. When was the first time...
California Might Finally Put a Lid on High-Interest Lenders
The California Assembly has passed legislation to end a 34-year era during which non-bank lenders have been free to charge consumers unlimited interest rates on loans from $2,500 to $10,000. By setting a 36% annual rate cap on such loans, Assembly Bill 539 by Assembly Banking and Finance Committee Chairwoman Monique Limón,...
Walters: Capping High Interest Rates on Loans Doesn't Fix Poverty
Last month, the Federal Reserve System issued a report on “the economic well-being of U.S. households” and it contained a rather disturbing bit of data. “If faced with an unexpected expense of $400,” a survey of American households found, “61% of adults say they would cover it with cash, savings,...
Questions Remain About Granite Park, Repayments to Cox
For the first time since a city audit questioned Granite Park's bookkeeping practices, a City Hall official says the nonprofit overseeing the sports park is in good standing. “Our legal opinion is that the nonprofit is in substantial compliance with its contract obligations,” city attorney Douglas Sloan said. The verdict...
New York Attorney Probing Trump Business Deals
NEW YORK — New York's attorney general has opened a civil investigation into President Donald Trump's business dealings, taking action after his former lawyer told Congress he exaggerated his wealth to obtain loans. A person familiar with the inquiry said Attorney General Letitia James issued subpoenas Monday to Deutsche Bank...
White House Tries to Hold Jittery GOP in Line on Shutdown
WASHINGTON — The White House is trying to hold jittery congressional Republicans in line on the 19th day of the partial government shutdown, with no end in sight to the impasse over President Donald Trump's demand for a wall at the U.S.-Mexico border. There's growing concern about the toll the...