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Small Businesses: Need a Loan to Get through the Coronavirus? Consider a Credit Union

Credit unions are an important source for PPP and other loans for small businesses

Small Businesses: Need a Loan Because You Were Impacted Financially by the Coronavirus?
By Christopher Starr, Director of Technical Assistance

Many small businesses are looking for resources and support to make ends meet during the coronavirus pandemic. The Small Business Administration’s Payroll Protection Program (or PPP) is one of the most well-known sources of funding and available through financial institutions that partner with the SBA. Many people have applied through traditional banks for a loan. Unfortunately, because traditional banks have been using their usual, strict underwriting standards to decide whether or not to give a loan—rather than taking into account the unusual circumstances caused by the pandemic—too many […]

Small Businesses: Need a Loan to Get through the Coronavirus? Consider a Credit Union2020-06-11T11:59:10-04:00

Statement from Neighborhood Trust on the Death of George Floyd and Institutional Racism

The devastating murder of George Floyd is only the latest, deeply disturbing example that institutional racism is endemic in our society and unconscionably allows Black Americans to be undervalued, discriminated against, and even killed.

Neighborhood Trust’s mission of financial empowerment is rooted in our understanding that our country’s economy was founded on and has grown via racist policies and institutions that have depleted the wealth—and the opportunity for economic mobility—of Black Americans and other people of color.

We have always focused on tackling the financial symptoms of racism, including poverty and the extreme racial wealth gap, but we need to do so more explicitly. This begins with taking a look at ourselves and ensuring we’re doing our part to confront and dismantle racism.

We stand […]

Statement from Neighborhood Trust on the Death of George Floyd and Institutional Racism2020-06-09T20:31:07-04:00

CARES Act: What You Need to Know

Your questions about the federal government’s emergency aid package answered

By Justin Enany, Project Manager / Financial Coach

On March 27, Congress signed into law a $2 trillion emergency aid package designed to mitigate the economic impact of the coronavirus pandemic (1). Called the Coronavirus Aid, Relief, and Economic Security (CARES) Act, it is a comprehensive relief package that includes:

  • One-time direct payments to adults who filed income tax returns in 2018 or 2019 (1);
  • An increase in the amount of unemployment benefits as well as an expansion of the eligibility requirements (2);
  • Loans (which can be partially or entirely forgiven depending on eligibility) for small businesses and nonprofits (3);
  • Free counseling and low-cost training for small […]
CARES Act: What You Need to Know2020-04-21T10:57:14-04:00

Wells Fargo Invests $1M in SaverLife and Neighborhood Trust Financial Partners to Disperse Financial Aid to Small Businesses Affected by COVID-19

SAN FRANCISCO, Mar. 26 /CSRwire/ –  SaverLife and Neighborhood Trust Financial Partners today announced they have teamed up with the Wells Fargo Foundation to help disperse $1M in financial aid to vulnerable entrepreneurs and their employees who have been financially affected by the impact of COVID-19. The Wells Fargo grant will provide for $500 cash boosts coupled with the financial guidance needed to navigate tough financial choices. The financial aid will be available to 1,000 small business owners and their employees identified in partnership with nonprofit small business lender Opportunity Fund.

How it Will Work

The program will leverage SaverLife technology and TrustPlus financial coaching (via phone and text chat) to connect to small/micro business owners and their employees who […]

Wells Fargo Invests $1M in SaverLife and Neighborhood Trust Financial Partners to Disperse Financial Aid to Small Businesses Affected by COVID-192020-03-27T09:09:13-04:00

Andrew Yang’s New Organization to Distribute More than $1 Million to Working Families in New York and Across the Country

Humanity Forward Coronavirus Relief Fund To Gift UBI to at least 1,000 Households in New York, Additional Households Around the Country

NEW YORK– Andrew Yang, entrepreneur and recent Presidential Candidate, announced on Friday that his new non-profit, Humanity Forward, and its partners will be distributing at least $1,000,000 to 1,000 households consisting of the working poor in the Bronx in response to the COVID-19 crisis. Recipients are clients of the financial empowerment nonprofit, Neighborhood Trust Financial Partners, and will receive $1,000 within the next two weeks. 

In addition to the initial program implemented in The Bronx, Humanity Forward will be partnering with One Fair Wage (OFW) to supplement their OFW Emergency Coronavirus Tipped and Service Worker Support Fund across New York. Humanity Forward will […]

Andrew Yang’s New Organization to Distribute More than $1 Million to Working Families in New York and Across the Country2020-03-26T17:44:20-04:00

Statement from Justine Zinkin on Neighborhood Trust’s COVID-19 Response

Statement from Justine Zinkin, CEO of Neighborhood Trust Financial Partners, on Neighborhood Trust’s COVID-19 Response:

For so many of us, the past week has been disorienting, with news of the COVID-19 changing rapidly every day. We are concerned about our small business customers and all of the workers we serve; and all of the families and businesses that are likely to be hit hard, with lasting repercussions on both health and on local economies. 

The coronavirus is already causing pain for small businesses and their workers. Given that the 30.2 million small businesses make up 99.9% of businesses in the U.S. and employ nearly half of all workers across the country (47.3%), we will all feel these effects. 

We need a […]

Statement from Justine Zinkin on Neighborhood Trust’s COVID-19 Response2020-04-20T11:38:52-04:00
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