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Newark, NJ

Newark launches $100M NWK FAM Fund for Black, Latinx small biz owners

"There are vast wealth disparities in our nation, state, and city between white-owned businesses and Black and Latinx-owned businesses, clearly worsened by the pandemic. We need to empower our entrepreneurs of color so that they can compete at increasingly higher levels," Mayor Ras Baraka said during a ceremony announcing the imitative. "The Newark 40 Acres and a Mule Fund will bring pride and prosperity to our city as a whole and to our Black and Latinx business community in particular.”

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OPINION: Close to home

With more than 50 commercial banks operating in the greater New Jersey region, competition in the market is strong. Middle market companies have their choice of banks, and while no one – including the banks – has all the answers regarding the current economic conditions, strong financial institutions can help pave the way for companies to get back in business and invest in long-term plans that will enable them to succeed in the “new normal," writes Santander Bank Middle Market Banking Executive Vice President David Swoyer.

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TD: COVID negatively affecting finances for more than a third of millennials

"Millennials haven't had it easy. They've been impacted by student loan debt, a recession and a difficult job market. Now, they face a global pandemic like nothing we've ever seen before," said Head of U.S. Bankcard Mike Kinane in a prepared statement. "Much of their financial situations has been out of their hands, but there are a few things they can control – how they budget, how they spend, if they choose to splurge and how they manage their debt."

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Step aside Darwin

NJBIZ spoke with some New Jersey experts who agree that sweeping changes are coming to property and casualty insurance operations and technology—and are confident that they’ll be able to handle them while continuing to provide top-notch service to business and other customers.

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