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The expanded Child Tax Credit included in the American Rescue Plan was a game-changer for Black small business owners and their employees. Child poverty rates for Black children dropped by 17.1% .
— The National Negro Business League Historian Juliet Walker calls 1900–1930 the "Golden age of black business." According to the National Negro Business League, the number black-owned businesses doubled from 20,000 1900 and 40,000 in 1914. There were 450 undertakers in 1900 and, rising to 1000. Drugstores rose from 250 to 695. Local retail merchants – most of them quite small – jumped ...
African-American history started with the arrival of Africans to North America in the 16th and 17th centuries. Former Spanish slaves who had been freed by Francis Drake arrived aboard the Golden Hind at New Albion in California in 1579. [1] The European colonization of the Americas, and the resulting Atlantic slave trade, led to a large-scale ...
The 2007–2008 financial crisis led to many bank failures in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. [ 2] In contrast, in the five years prior to 2008, only 10 banks failed. [ 2][ 3] At the end of 2022, the US banking industry had a total of about $620 billion in unrealized ...
39% of Black-owned businesses were owned by Black women in 2021, while men owned 53%. In the 2023 fiscal year, the SBA backed 4,781 loans to Black-owned businesses, totaling $1.45 billion. Over 3. ...
Clifton Wharton Jr. Wharton, who earned degrees from Harvard, Johns Hopkins, and the University of Chicago, broke a barrier when, in 1987, he was named CEO of TIAA-CREF, one of the world's largest ...
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. Tooltip Public Law (United States) 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance ...
The companies in the Wells Fargo survey had annual revenues ranging from $20 million to $500 million. Moses Harris, Black/African American segment leader for Wells Fargo commercial banking ...