Small Business

Interest rates are at record lows.  This may make the idea of borrowing money more appealing to the millions of Americans who lost their jobs or were furloughed because of the coronavirus shutdown. Two common assets that people often look towards when they need large sums of cash are their home’s equity or their 401(k),

A woman wearing a face mask walks past the closed Arlington Cinema and Drafthouse movie theater amid the coronavirus pandemic on May 14, 2020 in Arlington, Virginia. Photo by OLIVIER DOULIERY/AFP via Getty Images The number of Americans filing for unemployment benefits over the last four months is worse than any other time in modern

Desperate times can call for desperate measures.   Your first step when borrowing money to pay your bills should always be to look inward, according to Winnie Sun, a financial advisor.  Sun, co-founder of Sun Group Wealth Partners in Irvine, California, said she calls the practice “profit-shopping.”  The idea is simple. You go through every item

Business spending showed some signs of green shoots in June, as manufacturers bought more equipment and spending shifted away from stay-at-home sectors to ones that could rebound in a reopening economy,  according to Cortera, a software company which analyzes business-to-business credit transactions. But overall June spending was still depressed, down 10.9% from the same month

Michael De Los Santos saw a big boost in sales on Blackout Day as consumers supported his BBQ sauce business. Source: Michael De Los Santos As activists and allies spread the word about Blackout Day, some Black-owned businesses said they saw a boost in support. The movement urged both Black consumers and others to either

Treasury Secretary Steven Mnuchin speaks as U.S. President Donald Trump and White House senior adviser Ivanka Trump listen during an East Room event highlighting Paycheck Protection Program (PPP) loans for small businesses adversely affected by the coronavirus disease (COVID-19) outbreak, at the White House in Washington, U.S., April 28, 2020. Carlos Barria | Reuters The

An employee takes the temperature of a building tenant outside the Empire State Building in midtown Manhattan, as the iconic tower prepares to open to more tenants and visitors following the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., June 24, 2020. Mike Segar | Reuters Among the countless things

A shopper walks with bags of purchases. Pedestrian and vehicular traffic have noticeably increased as businesses mark the next phase of reopening the economy today in New York City. John Lamparski | SOPA Images | Getty Images Black American consumers are hoping to make the financial and economic community pay attention Tuesday by using the

Billionaires, country clubs, private jet companies and Kanye West all received millions in government funding under the Paycheck Protection Program, according to the Small Business Administration.  The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small

Steven Mnuchin, U.S. Treasury secretary, speaks during a Senate Small Business and Entrepreneurship Committee hearing in Washington, D.C., U.S., on Wednesday, June 10, 2020. Al Drago | Bloomberg | Getty Images Companies have returned or canceled more than $30 billion in loans approved through the government’s emergency Paycheck Protection Program, a senior administration official said