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
Bank of America allocates $300 million of $1 billion equity pledge
As part of a four-year, $1 billion pledge announced in June to advance racial equality and economic opportunity, Bank of America has announced commitments totaling $300 million. The commitments include support for initiatives across ninety-one U.S. and global markets in four areas: $25 million for jobs initiatives in Black and Latinx communities, $25 million in support of community outreach and initiatives, $50 million for direct equity investments to minority depository institutions (MDIs), and $200 million in proprietary equity investments in minority entrepreneurs, businesses, and funds.