Lori Borgman: Just when you think you can't get any richer
We closed out a bank account we once used for direct deposit and no longer need. Yes, it's a sad day when your direct deposits cease to exist. A moment of silence, please. We went in person to the bank to close the account. For the record, it is the only time either of us have entered a bank wearing masks. It took some time. There was a flurry of activity behind the counter as several people consulted with one another and a bank manager was sought to sign off on things. Finally, we filled out the necessary paperwork, withdrew the remainder in the account, said our goodbyes, and left the bank w...
Tribune News Service
More than one-third of PPP money in Illinois went to employers that got $1 million or more, new SBA data shows
More than one-third of the funds Illinois businesses and nonprofits received through the federal Paycheck Protection Program went to less than 2% of participants, according to data released late Tuesday by the Small Business Administration.Nearly 4,000 businesses in Illinois received loans of $1 million or more, adding up to $8.67 billion, or 38% of the total. In Illinois, the SBA approved more than 221,000 loans worth nearly $23 billion, according to the newly published data.The agency released the data under a court order in a federal lawsuit filed by news organizations, making public the na...
Cooling Stress Tips: How to fill up your emotional bank account
Do you feel anxious when your checking account gets low? Most of us do. Our bank statements and incoming bills can cause a rise in anxiety.But, do you realize your emotional “bank account” can plunge as well? Too much stress, too many problems, too many demands on you can drain the life right out of you.When we’re stressed out, many of us tend to overeat. We might also overspend, watch too much TV, and stay on social media for hours.We’re trying to fill our spirit because the emptiness gets to be too much.That’s why it pays to guard your emotional bank account. How? You’ll need to make some “d...
Tribune News Service
BMO Harris launches $5 billion program to help Black and Latino businesses and communities
CHICAGO — BMO Harris is launching a $5 billion initiative to support minority-owned businesses and communities, with a significant investment earmarked for Chicago.The five-year program, announced Tuesday, will increase commercial lending opportunities for Black and Latino businesses, which have been hard-hit during the pandemic. It also will include direct investment in underserved communities through affordable housing and neighborhood revitalization.“We’ve seen the disparate impact that it (COVID-19) has had on communities of color during the economic downturn,” said Eric Smith, a Chicago-b...
Yes, it's OK to use cash again
Many people have stopped using cold, hard — and dirty — cash in favor of debit, credit, or contactless forms of payment. Transferred from one person to the next, money is susceptible to picking up a whole host of germs. And naturally, when the coronavirus hit, this left people questioning if cash was safe, while many businesses started encouraging cashless forms of payment.But do we really need to be concerned about getting coronavirus from cash?Probably not.‘THE LIKELIHOOD OF GETTING COVID-19 FROM TOUCHING MONEY IS EXTREMELY LOW.’With months of research behind us, our knowledge of COVID-19 ha...
The Philadelphia Inquirer