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Wells Fargo Commitment Could Potentially Result in Billions for Small Businesses

NNPA NEWSWIRE — “We also noticed that diverse individuals were having a very negative impact, and with the data, it was coming to 41 percent or 450,000 Black-owned businesses closed when COVID hit. That is a disproportionate impact not only to the entrepreneurs but also to the employees they have and the pocketbook,” said Jenny Flores, Wells Fargo’s head of small business growth philanthropy.

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Given the federal government's extension of the PPP, Wells Fargo will reopen its PPP loan application process to eligible customers as soon as possible through a link in Business Online Banking, the bank noted in a news release.
Given the federal government's extension of the PPP, Wells Fargo will reopen its PPP loan application process to eligible customers as soon as possible through a link in Business Online Banking, the bank noted in a news release.

By Stacy M. Brown, NNPA Newswire Senior Correspondent
@StacyBrownMedia

In April, Wells Fargo announced it would donate gross proceeds from the Paycheck Protection Plan to nonprofits working with small businesses.

This month, the bank has ramped up its efforts by unveiling the details of an approximately $400 million initiative to help small businesses impacted by the ongoing COVID-19 pandemic.

The goal is to help keep the doors of small businesses open, retain employees, and rebuild.

Through Wells Fargo’s new Open for Business Fund, the company will engage nonprofit organizations to provide capital, technical support, and long-term resiliency programs to small businesses, emphasizing those that are minority-owned businesses.

“We realized early on that small businesses were taking the brunt of what was happening with COVID-19 and the economic slowdown that occurred,” said Jenny Flores, Wells Fargo’s head of small business growth philanthropy.

“We also noticed that diverse individuals were having a very negative impact, and with the data, it was coming to 41 percent or 450,000 Black-owned businesses closed when COVID hit. That is a disproportionate impact not only to the entrepreneurs but also to the employees they have and the pocketbook,” Flores stated.

Through June 30, Wells Fargo funded loans under the PPP for more than 179,000 customers, with an average loan amount of $56,000, totaling $10.1 billion.

Of the loans made, 84 percent of those are for companies with less than ten employees; 60 percent were for amounts of $25,000 or less; and, 90 percent of these applicants had $2 million or less in annual revenue.

Given the federal government’s extension of the PPP, Wells Fargo will reopen its PPP loan application process to eligible customers as soon as possible through a link in Business Online Banking, the bank noted in a news release.

Additionally, the Wells Fargo Open for Business Fund’s initial grants will allocate $28 million to Community Development Financial Institutions (CDFIs), also known as nonprofit community lenders.

The grants are aimed at empowering Black and African American-owned small businesses, which the National Bureau of Economic Research said are closing at nearly twice the rate of the industry.

Among the first grantees are Expanding Black Business Credit Initiative (EBBC), which will support the launch of a Black Vision Fund to increase the flow of capital to Black-focused CDFIs for transformational work to close the racial wealth gap in African American communities.

The CDFIs will also receive capital for urgent deployment to impacted businesses in the Mid-Atlantic, Southeast, and Midwest.

Further, a Local Initiatives Support Corporation (LISC) will provide grants and low-cost capital to more than 2,800 entrepreneurs, focusing on preventing loss in revenue, sustaining employment, and averting vacancies among vulnerable small business owners in urban and rural markets nationwide.

“This is an extension of the commitment we had to diverse businesses,” Flores noted.

“Small businesses need cash to open again, and we are putting $260 million for community development financial pocket lenders that have a track record of reaching diverse communities. We want them to be able to do new loans and to have grant money.”

Wells Fargo counts as one of the top PPP lenders in the country and has spent a lot of time understanding various strategies to assist small businesses, Flores declared.

“We have key members across the country, and I talk to entrepreneurs directly,” she said.

“This reflects a very thoughtful approach, one that is based on really putting the customer right at the center, listening to what they need. This has potentially $1 billion of impact in a three-year period,” Flores added.

“When they get the loans and recycle that and then for every million CDFI loans out to small businesses, they can support 18 businesses and create 31 jobs.

“Hence, if you take the $250 million and work through it, it’s thousands of businesses we’re impacting in such a positive way. We’re really proud of the opportunity we have to collaborate with CDFIs and particularly those who are led by diverse entrepreneurs.”

A Little About Me: I'm the co-author of Blind Faith: The Miraculous Journey of Lula Hardaway and her son, Stevie Wonder (Simon & Schuster) and Michael Jackson: The Man Behind The Mask, An Insider's Account of the King of Pop (Select Books Publishing, Inc.) My work can often be found in the Washington Informer, Baltimore Times, Philadelphia Tribune, Pocono Record, the New York Post, and Black Press USA.

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Black History

PRESS ROOM: McDonald’s and BMOA Celebrate Herman Petty’s Legacy at the Obama Presidential Center

BLACKPRESSUSA NEWSWIRE — In 1968, Herman Petty opened his first McDonald’s near Jackson Park, creating a breakthrough moment for Black entrepreneurship on the South Side and helping open doors for generations of business owners and community leaders.

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From left to right: Derrick Taylor, BMOA Chicago President; Patrice Petty-Orr, daughter of Herman Petty; Latrice Orr, granddaughter of Herman Petty; Chris Kempczinski, McDonald’s CEO; and Tanya Hill-Holliday, President of the National Black McDonald’s Operators Association.
From left to right: Derrick Taylor, BMOA Chicago President; Patrice Petty-Orr, daughter of Herman Petty; Latrice Orr, granddaughter of Herman Petty; Chris Kempczinski, McDonald’s CEO; and Tanya Hill-Holliday, President of the National Black McDonald’s Operators Association.

Sponsored by McDonald's.

A proud moment at the Obama Presidential Center in Chicago, where the Herman Petty Room now recognizes a true Chicago trailblazer. In 1968, Petty opened his first McDonald’s near Jackson Park, creating a breakthrough moment for Black entrepreneurship on the South Side and helping open doors for generations of business owners and community leaders.



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Black Press

Author Kristen Amundson Explains ‘The Grandparent Effect’ and How It’s Helping Children Thrive Through Love, Support, and Connection

Author Kristen Amundson’s new book, “The Grandparent Effect,” explores the evolving role of grandparents in children’s lives. Amundson, former president and CEO of the National Association of State Boards of Education, highlights how longer lifespans and changing family dynamics make grandparents increasingly important for support, connection, and boosting children’s confidence. Her work details how involved grandparents experience health benefits and have adapted to recent challenges, including pandemic support. The book also addresses potential challenges like respecting parental boundaries. Read more to learn about the valuable insights for 21st-century grandparents.

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Kristen Amundson has devoted her professional life to supporting students and parents throughout the education system. Previously, she authored “81 Questions for Parents” and “Unfinished Learning: Parents, Schools, and COVID School Closures.”

Amundson, the former president and CEO of the National Association of State Boards of Education, is now turning her attention to grandparents. Her new book is titled “The Grandparent Effect: Helping Children Thrive Through Love, Support, and Connection,” and is published by Bloomsbury.

Amundson explains that grandparents have become increasingly important in children’s lives due to longer lifespans and changing family dynamics. Originally, grandparents were important for children’s survival, particularly at a time when families were large and mothers needed extra caregiving support. Because mothers often turned to their mothers for this help, the positive impact on children was often called the “Grandmother Effect.”

Today, many more grandfathers are involved with their grandchildren. Amundson prefers to talk about the “Grandparent Effect” and notes that these caregivers also support reading and writing, boost confidence, and encourage grandchildren’s interests. She notes that those involved grandparents experience health benefits themselves (“if you have to get on the ground with an infant and take a child to the park, you are moving around and that’s good exercise!”).

The book provides an overview of how the role of grandparents has evolved over time, explaining that until the 19th century grandparents often lived close to their grandchildren and worked together on farms. She describes how the Industrial Revolution led to families splitting up, with children moving to cities for factory work while grandparents remained on farms, resulting in grandparents becoming poorer over time.

“There are many examples of how grandparents have adapted during recent challenges, including providing support during the pandemic through in-person care when possible or using technology like FaceTime and Zoom when physically distant, and taking on roles like ‘granny nannies’ to help with childcare and education needs,” she says.

Amundson tells the story of a grandmother who took the time to become certified in dyslexia training and taught her family members, including her granddaughter and grandson.

But with these added roles come some possible hiccups along the way. She emphasizes that grandparents need to remember they are no longer in charge like they were with their own children, and parents have the right to set rules that grandparents should respect. Amundson illustrates this point with examples about discipline and food choices, noting that grandparents should follow the parents’ guidelines rather than overruling them (except for maybe allowing an extra cookie).

“I know of a situation where grandparents crossing boundaries affected family dynamics when they took their grandchild to the emergency room without involving the parents, which later led to a temporary timeout for the grandparents.”

Amundson’s book also includes examples of ways grandparents advocate for the next generation, such as Texas grandmothers who speak out on state legislation.

Other grandparents participate in a self-help group supporting custodial grandparents who care for children whose parents are dealing with substance use issues or are incarcerated. The group provides practical support including educational seminars, college application assistance, and simple activities like Halloween decorations to help children feel included.

Amundson’s book is a valuable and enjoyable resource for grandparents who are navigating the excitement and joy of their senior status in the 21st century.

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Black Press

A Viral Moment with Purpose: Keep Your Head Up Gives Back

JACKSONVILLE FREE PRESS — An encouraging exchange between Jacksonville Editor Lynn Jones and Jaguars Coach Liam Coen quickly went viral, gaining national and international attention. The Jacksonville Free Press transformed this moment into an opportunity, creating “Keep Your Head Up” T-shirts.

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Pictures are Pine Forest School of the Arts teachers Laura Hammock, left, and Tanya Bolden wearing their Jacksonville Free Press "Keep Your Head Up' shirts in support of the Journalism Fund.
Pictures are Pine Forest School of the Arts teachers Laura Hammock, left, and Tanya Bolden wearing their Jacksonville Free Press "Keep Your Head Up' shirts in support of the Journalism Fund.

What began as a few encouraging words to Jacksonville Jaguars Head Coach Liam Coen has grown into a community message – and a way to help nurture the next generation of journalists.

Earlier this year, Jacksonville Editor Lynn Jones offered spontaneous encouragement, telling him to ‘keep your head up’ and ‘keep it going.’ The exchange quickly went viral, gaining national and international attention across television sports programs, podcasts, social media and online video platforms.

The Jacksonville Free Press turned the unexpected attention into an opportunity to give back, creating “Keep Your Head Up” T-shirts inspired by Jones’ words. Hundreds of shirts have since been sold, with proceeds benefiting the Jacksonville Free Press Journalism Fund, which supports efforts to nurture, encourage and develop future journalists.

For Hammock and Bolden, the words extend beyond football. They said the message also serves as a reminder to their families to remain positive and keep moving forward through life’s victories and setbacks.

The shirts have allowed a fleeting viral moment to produce a more lasting impact. Proceeds from sales are helping support a fund focused on creating opportunities for aspiring journalists and encouraging young people to learn the importance of storytelling, community news and documenting history.

Based on reporting by Jacksonville Free Press.



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Black Press

New Shoes, Stronger Steps: Milwaukee Initiative Takes Aim at Gun Violence

MILWAUKEE TIMES WEEKLY — The “Stompin’ Out Gun Violence” initiative is using sought-after sneakers to engage young people with a message about preventing gun violence. Led by the Latroy V. Harris Initiative, “I Will Not Die to Gun Violence,” the program provides free shoes in Milwaukee while fostering conversations aimed at a safer future.

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Photo by Yvonne Kemp
Photo by Yvonne Kemp — Yvonne Kemp

“Stompin’ Out Gun Violence” uses sought-after sneakers to open the door to a life-saving message for young people.

A new pair of shoes can do more than complete an outfit—it can help a young person step toward a safer future. That is the idea behind “Stompin’ Out Gun Violence,” a traveling shoe giveaway led by the Latroy V. Harris Initiative, “I Will Not Die to Gun Violence.”

Founder Monte Mabra says the work comes with no paycheck. Its reward is measured instead in smiles, gratitude, and the chance to turn a potentially negative outcome into a positive one. By pairing free shoes with conversations about gun violence, organizers hope to reach young people with a message that stays with them long after the event ends.

“I like what Monte is doing to change the course of violent crime,” said Michael F. Hupy of personal injury law firm Hupy and Abraham, S.C. and leading sponsor “The shoes carry them in the door, and the message follows them out.”

Students at Carmen School of Science and Technology, 3215 Dr. Martin Luther King Jr. Drive, received Nike, Adidas, and Jordans. Principal Miller said she looks forward to next year and to continuing to build a relationship with the Latroy V. Harris Initiative.

The initiative honors Latroy V. Harris, who was lost to gun violence on Dec. 15, 2025. His family and loved ones are keeping his memory alive by working to prevent other families from experiencing the same loss.

The campaign’s next stop is Bruce Elementary School on Sept. 30. Organizers plan to give away shoes, gun- and domestic-violence awareness and prevention coloring books, and educational books.

For the young people reached by the initiative, each pair of shoes carries more than a brand name. It carries a reminder: their lives matter, their futures are worth protecting, and every step away from violence counts.

Photo by Yvonne Kemp
Photo by Yvonne Kemp
Photo by Yvonne Kemp
Photo by Yvonne Kemp
Photo by Yvonne Kemp

Based on reporting by Milwaukee Times Weekly.



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Black Press

Partnership Helps Patients Prepare for Medicaid Rules

ST. LOUIS AMERICAN — Affinia Healthcare and Employment Connection have partnered to assist patients in securing employment, training, or volunteer opportunities. This collaboration comes as new Medicaid work requirements are set to begin on January 1, 2027. These requirements will mandate certain adults to meet work, education, or community service criteria to maintain their coverage, though some exemptions may apply.

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Affinia Healthcare President and CEO Dr. Kendra Holmes is helping patients prepare for new Medicaid work requirements by connecting them with job, training and volunteer opportunities. Photo by Wiley Price I St. Louis American
Affinia Healthcare President and CEO Dr. Kendra Holmes is helping patients prepare for new Medicaid work requirements by connecting them with job, training and volunteer opportunities. Photo by Wiley Price I St. Louis American — Wiley Price I St. Louis American

Affinia Healthcare and Employment Connection are teaming up to help patients find jobs, training or volunteer opportunities as new Medicaid work requirements approach.

Beginning Jan. 1, 2027, certain adults will have to meet work, education or community service requirements to keep their coverage. Some patients may qualify for exemptions.

Patients seeking assistance can call Affinia Healthcare at 314-814-8700 and ask about the partnership. Affinia’s outreach team can help connect them with Employment Connection.

The post Partnership helps patients prepare for Medicaid rules appeared first on St. Louis American.

Based on reporting by St. Louis American.



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Black History

IN MEMORIAM: The Mighty Sparrow, King of Calypso, Dies at Age 91 in New York

NEW YORK CARIB NEWS — Slinger Francisco, widely known as the Mighty Sparrow, died on Sunday, September 27, in New York at the age of 91. The legendary calypso artist passed peacefully after a brief illness, surrounded by loved ones. Born in Grand Roy, Grenada, in 1935, he moved to Trinidad as a child, where he developed his distinctive style.

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Mighty Sparrow show ad in New York Amsterdam News Date Published on Jul 26, 1969
Mighty Sparrow show ad in New York Amsterdam News Date Published on Jul 26, 1969
USA Charge d'Affaires Margaret B. Diop with the Mighty Sparrow Date 14 January 2015. Author U.S. Embassy Trinidad and Tobago
USA Charge d’Affaires Margaret B. Diop with the Mighty Sparrow Date 14 January 2015. Author U.S. Embassy Trinidad and Tobago

NEW YORK — For anyone raised in the Caribbean, or in a Brooklyn, Bronx, or Queens household where the radio stayed tuned to home, there was never a time without the Mighty Sparrow. His voice was simply part of the furniture of our lives: at Carnival, at weddings, at Sunday lunch, in the car on the way to JFK. On Sunday, that voice went quiet.

Slinger Francisco, known to the world as the Mighty Sparrow, died Sunday, September 27, in New York. He was 91. His family said he passed peacefully after a brief illness, with loved ones at his bedside.

He was born in Grand Roy, Grenada, in 1935, and was still a small child when his family moved to Trinidad. Port of Spain made him. Its yards, its rum shops and its calypso tents gave him his rhythm and his sharp tongue. He sang in a church choir as a boy, but the city had a louder music, and by his late teens he was performing under the name that would become a title.

The breakthrough came in 1956 with “Jean and Dinah,” his mischievous farewell to the American servicemen leaving Trinidad after the war years. The song swept Carnival, winning him both the Road March and the Calypso King crown. It introduced a young performer who could be funny and fearless at once, who could make an entire nation laugh at itself and then think hard about what it had just laughed at.

He was fearless offstage too. A year after that first crown, he refused to compete over the paltry prize money offered to calypsonians, a stand that helped push the art form toward the respect and the pay its practitioners deserved.

Over six decades, he recorded hundreds of songs. He could turn a love story, a boast or a bit of bedroom comedy into a hit, but he was just as formidable when the subject was power. “Dan Is the Man in the Van” took apart a colonial schooling that taught Caribbean children nonsense about themselves. “Congo Man,” “Mr. Walker,” “The Lizard” and “Both of Them” became standards sung by people who had never set foot in a calypso tent. Long before anyone printed it on a poster, audiences had already crowned him the Calypso King of the World.

For New York’s Caribbean community, Sparrow was never just a visiting star. He made this city his home for many years and played its biggest rooms, including Madison Square Garden, before crowds of immigrants who heard in his voice the islands they had left behind. A Sparrow show here was less a concert than a homecoming.

Trinidad and Tobago honored him with the Trinity Cross, then its highest national award, and generations of calypsonians and soca artists have named him as the standard they measured themselves against. Fans called him “Birdie,” and the affection in that nickname said everything.

Tributes are already pouring in from across the region and the diaspora, and they will keep coming for weeks. But perhaps the truest tribute is the simplest one: somewhere tonight, in Port of Spain, St. George’s, Flatbush and beyond, someone is putting on a Sparrow record, turning it up, and singing along.

Based on reporting by New York Carib News.



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