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  • Sewing circle: How Women of the Global South helps refugees stitch together new lives in Brazil

    Refugee women arriving in Brazil have been able to achieve financial independence through the work of an organization called Women of the Global South, an organization that provides women with the tools and skills to sell textiles. In addition to providing entrepreneurial skills, it also helps refugee women with transportation, classes, sewing machines and even provides cash for emergencies and help getting in touch with family members they have been separated from.

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  • How Germany Saved Its Workforce From Unemployment While Spending Less Per Person Than the U.S.

    Germany's creative workshare approach to stemming unemployment has prevented mass layoffs, unlike rising numbers in the United States. The German government provides payroll subsidies which allow an employer to keep on its staff by cutting back hours for everyone. Unemployment funds that would usually go to those who are laid off are instead directed to employers' payrolls, preventing the inconvenience and uncertainty of layoffs and allowing workers to seamlessly return to work full time when the health crisis is under control.

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  • Is Germany Doing Enough to Ensure Small Businesses survive the Coronavirus crisis?

    The German government has spent billions to keep small businesses and freelancers afloat during the pandemic. Entrepreneurs who qualified were sent funds, often within 2 business days, specifically for business-operating costs such as commercial rent. Some businesses are hoping for more support in the form of rent freezes depending on how long the lockdown continues while others lost out on funding by waiting too long. The program ran out of money but the government has announced additional aid packages.

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  • 'Stopgap' or life saver?: Italy's scheme to help the self-employed survive the coronavirus crisis

    The Italian government's attempt to assuage the financial fallout of the pandemic on small businesses, freelance workers, and the self-employed did not achieve the desired results despite the enormous size of the aid package: 25 billion euros. Delays, technical glitches, and language barriers for international workers have plagued the application process from the day it was launched and over half a million applications have yet to be processed. Italians also criticized the 600-euro amount which is the average rent in the country, often higher in some areas. The government has announced additional aid.

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  • Coronavirus crisis in France: The battle to save the livelihoods of the self-employed

    The French government has spent billions to keep small businesses afloat during the coronavirus lockdown in hopes that the stopgap funding will ensure a quick economic recovery once the health crisis abates. The funding has been on a national and regional level, with extra funding for those who have been rejected for bank loans and are suffering the most. Small businesses are also exempt from rent, gas, or electricity payments until the country reopens. The distribution of funding has come with its challenges as some business fall through the bureaucratic cracks.

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  • How Louisiana cities are using the CARES Act to save small businesses, keep people in homes

    The Cares Act is a federal program providing $46.6 million dollars of emergency aid which cities in Louisiana are spending on a combination of a mortgage and rent relief or on the needs of small businesses. For most cities throughout the state, the first priority is keeping residents in their homes as the stay on evictions approaches, at which point landlords will expect rent as well as backpay. Louisiana faces the triple threat of a pandemic, the economic fallout from it, and a series of tornados. Keeping people in their homes has been the foremost priority to stop the spread of the virus.

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  • Banking on community, local lenders secure PPP loans for businesses

    Community banks in Wyoming were able to better serve local businesses in securing federal funds from the Paycheck Protection Program. The smaller banks were able to quickly pivot their staffing and operations need to process the overwhelming number of applicants, resulting in an approval rate of 100 percent in some counties. Personal connections in the smaller communities also led banks to work overtime and do everything in their power to help local businesses, in contrast to big banks which appeared to prioritize clients with higher net worth, according to reports.

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  • Bodegas and Corner Stores Are Part of Crisis Response — They're Also Uniquely Vulnerable

    Amidst the COVID-19 crisis, bodegas offer local supplies in many food deserts across the country. While the bodegas struggle to find funding and stay in business for their neighborhoods, they also fight their way into policy discussions and micro-loan programs to stay afloat for low-income neighbors needing healthy food options.

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  • This Bank Hired a Community Organizer and Here's What Happened Next

    Reducing inequality in the financial sector requires creating connections to underserved communities of color. In Boston, Berkshire Bank has begun an initiative to reach those who are “underbanked.” The bank’s new Reevex Labs facilities use coworking and event spaces to facilitate connections between communities and financial institutions. At Reevex locations, community members can connect to organizations like The Runway Project, which facilitates low-interest loans to entrepreneurs of color.

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  • Honeycomb Credit expands to Philly to help small business owners get crowdsourced loans

    Founded in Pittsburgh, Honeycomb Credit expands to Philadelphia as a way to offer small businesses help with microfinance challenges. The company hosts a platform that allows businesses to create fundraising profiles; community members can watch a video about the business and decide to invest and receive monthly payouts from their contribution.

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