News

Jan 14, 2021

Duke Energy establishes relationship with Optus Bank to support minority-owned businesses

Duke Energy (NYSE: DUK) announced today it has deposited $5 million into Optus Bank, a Black-owned bank based in South Carolina, furthering the company’s support for diverse and minority-owned businesses, individuals and low income communities. The transaction was completed at the end of 2020. One of approximately 20 banks designated as Black or African American owned in the U.S., Optus Bank will use the money Duke Energy deposited to provide other minority-owned businesses and underserved communities equal access to capital loans and financial services.

Jan 12, 2021

New PPP changes aim to serve businesses owned by marginalized communities

This is the week a new round of Paycheck Protection Program loans became available for pandemic-ravaged businesses. These loans don’t have to be paid back if rules are met. Right now, loans are open for first-time applicants. And the application has to go through community banking organizations — no big banks, for now, at least.

Jan 11, 2021

New COVID-19 relief loans now open. Restaurants, retail expected to lead demand.

COLUMBIA — The Bank of South Carolina is compiling a list of small-business owners calling in asking about more funds from forgivable federal loans as COVID-19 continues to pummel large swaths of the Palmetto State’s economy.

Dec 19, 2020

Columbia Business Monthly 50 Most Influential and the Hall of Fa

Since the beginning of this year, Optus Bank’s total assets, loans and earnings are on track to more than double the previous year totals while facing many Covid-19 related challenges.

Dec 13, 2020

Commercial lending push at Black-owned banks gets results

After decades of operating on the periphery of financial services, Black-owned banks are beginning to find seats at the tables where corporate transactions are brokered.

Dec 10, 2020

Black-owned banks band together to finance pro sports facility

A group of Black-owned banks will refinance a major construction loan for the Atlanta Hawks professional basketball team in a deal that organizers hope will spur more investment in Black-owned banks.

Nov 16, 2020

The Battle to Keep America’s Black Banks Alive

A half-century ago, the federal government set out to attack the racial wealth gap by supporting Black-owned banks. Policy makers hoped the banks would lend to Black communities sidelined by the mainstream financial system.

Oct 18, 2020

Growing Through A Crisis: Optus Bank

The coronavirus pandemic and the great recession that it caused has been devastating to businesses worldwide. That has been especially true when it comes to Black-owned businesses.

Sep 27, 2020

Lowcountry churches to invest thousands of dollars in Black-owned financial institutions

It’s harder for Blacks than other groups of Americans to obtain businesses loans, home financing and well-paying jobs. For more than a century since slavery’s end, African Americans have been systemically excluded from economic opportunities afforded to the majority, resulting in a wealth gap between Blacks and Whites.

Sep 9, 2020

Optus Bank: Capitalizing on what it does best

R&B singer, Billy Ocean, once sang, “When the going gets tough, the tough get going.” This is exactly what Optus Bank did in going the extra mile to make sure it provided funds to minority-owned businesses enabling them to sustain during the COVID-19 crisis, and to thrive after. According to Board Chair, Paul Mitchell, increasing its ability to serve more local minority-owned businesses while providing relationship banking services to the entire community has fueled the continued success of Optus Bank.