The Small Business Administration is ramping up efforts to process millions of incoming loan requests thanks to the Coronavirus relief bill. Greta spoke with Former SBA Administrator under George W. Bush, Hector Barreto, about how small businesses across the country can apply for the desperately needed economic assistance.
Mastercard is dealing with the effects of the COVID-19 situation and the impact on our global economies just like all of you. We realize many are dealing with the uncertainty of the financial futures of millions of families and small businesses across the US.
Mastercard is committed to our employees, consumers, and merchants. Our core mission is enabling commerce. We’re going to keep doing that today, tomorrow and far into the future. We are taking all necessary steps to maintain service to our customers. Electronic payments play a vital and stabilizing role in the face of challenges that disrupt the consumption and economic activity. For more details, please check Mastercard’s dedicated page with the latest information on how our technology is helping: https://www.mastercard.com/global/covid-19-info.html
Through our Master Your Card Program, we are staying in constant contact with our community partners to understand concerns and help individuals and small businesses maintain their financial health and find hope in a difficult economy.
As a community empowerment program, Master Your Card is ready to serve as a resource to navigate the road ahead.
In times like these, all efforts matter and we will continue to look for ways to help – big and small. For example, Mastercard partnered with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19. Together, we have committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments.
At Mastercard, our focus has always been on building a more connected world. We remain committed to that cause. We will be with you today and as we rebuild our financial future.
Thank you, and be safe,
Wednesday, March 25, 2020
Our members are doing incredible work under extraordinary circumstances, and the bonus pay we negotiated with AT&T recognizes that work. We have also worked together to reach agreements for enhanced safety procedures and sick and family leave protection for all CWA-represented AT&T workers.
Our priority is to ensure worker and customer safety, solve problems, and provide reliable essential service to our customers. We continue to work collaboratively to address issues as they arise.
AT&T’s response to this crisis should be a model for other corporations. Concrete actions like this bonus, enhanced safety procedures, sick and family leave protection, and suspension of stock buybacks prove that AT&T cares about its employees and their customers.
Press Contact:Amy Fetherolf
March 25, 2020
By John Furner, President & CEO – Walmart U.S. and Kath McLay, President & CEO – Sam’s Club
Walmart and Sam’s Club are central to thousands of American communities, and we serve those communities hand-in-hand with other businesses – businesses that employ many of our customers, members and loved ones. Today we wanted to share how we’re supporting some of these partners as they deal with the spread of COVID-19 in the U.S.
As you know, a variety of small businesses operate inside Walmart Supercenters and Sam’s Clubs – hair and nail salons, optometrists, restaurant franchises, veterinary clinics, local and regional banks. We have more than 10,000 leased spaces throughout the country.
This is a trying time for many of these establishments – just as it is for so many other businesses across America. Some have had to temporarily close or significantly reduce hours and services.
We want to help. That’s why we’re waiving rent for all Walmart property partners for the month of April, as well as for the hundreds of eye doctors who operate at Sam’s Clubs. It’s our hope that this rent relief will help these businesses financially weather the current situation and take care of their employees.
We’ll continue to monitor the need for additional support past April. We’re also working with many of our partners to encourage their impacted employees to apply for the 150,000 temporary jobs we plan to fill in the coming months.
Supply Chain Financing Program
This is also a difficult time for some of our suppliers: the companies who produce the products we sell on our shelves and websites. Capital is increasingly maxed for some suppliers as their business models change and shift.
Because of this, we’re making changes to our Supply Chain financing program, which is a program where Walmart and Sam’s Club work with national banks to allow qualified suppliers to get payments from us faster. We’re improving the program: by adding dedicated resources to speed up the on-boarding process, eliminating an eligibility requirement and adding JPMorgan Chase as a partner (they join existing partners Citibank and Wells Fargo).
More than two-thirds of our 18,000 suppliers are small and medium sized businesses who could benefit from this newly enhanced program. We encourage them to look into it through our Supplier Academy system.
These are two ways we are trying to help our partners during this difficult and unprecedented situation. We know that by working together we’ll be able to make the greatest difference for our customers, our members and for America.
Click the image below for full guidelines.
“We reached an agreement yesterday on a new legislative package that will provide strong support for American families and communities in dealing with the coronavirus.” – President Donald J. Trump
President Donald J. Trump is signing a legislative package that provides extensive assistance to Americans impacted by the coronavirus.
SUPPORTING BUSINESSES, WORKERS, AND FAMILIES: This package delivers on President Trump’s commitment to provide strong economic support to Americans harmed by the virus.
--- Employees will receive pay directly from their employers, rather than from a less-efficient government-run program.
TESTING FOR ALL AMERICANS: This legislation helps to realize President Trump’s primary goal of ensuring coronavirus testing is accessible to every American.
-- As a result of the President’s efforts, testing is now available in all 50 states and we are testing faster than ever.
As the nation continues to react and respond to the spread of COVID-19, the coronavirus, Walmart has taken steps to support our customers, associates and communities in a variety of ways during this uncertain and unprecedented time. Today, I want to share with you our latest announcement that Walmart and the Walmart Foundation have committed $25 million to support organizations on the front lines responding to the outbreak.
The commitment will be used to strengthen the global public health response, bolster food security, and support the needs of local communities in the U.S. and internationally. The first grants are expected to be issued this week, and details regarding individual grants will be made available as they are finalized.
Below is a summary of the previous key steps the company has taken to-date in response to the spread of COVID-19:
For our Customers
We continue to take proactive measures in our Walmart stores and Sam’s Clubs.
For our Associates
We are supporting our associates working in our stores and Sam’s Clubs in this time of uncertainty.
In our Communities
We are working with federal, state and local officials to help the national response to the virus, which will include hosting drive-thru COVID-19 testing sites in select store parking lots.
We will continue to monitor the situation closely with the support of our Emergency Operations Center, health officials and other key external partners. We are taking appropriate steps to continue to provide a safe shopping experience for our customers and a healthy environment for our associates and communities.
March 17, 2020 – The Latino Coalition, the leading advocacy and membership organization for U.S. Hispanic businesses, is on the front lines of promoting economic opportunities for small businesses in the Latino community. During this tenuous time in our nation’s history, amid the outbreak of the novel coronavirus, our coalition strongly supports innovative new ideas to deliver quality healthcare to underserved populations. However, The Administration’s proposed extension of Buy American provisions to the biopharmaceutical industry, while well intentioned, may result in shortages that could undermine emergency response efforts for COVID-19. This would have a disproportionate impact on Latino patients as we already face roadblocks in accessing quality healthcare and also have a high number of uninsured individuals in our community.
Our coalition supports the Administration’s goal of improving policies to better prepare for future crises, Members of Congress, and political candidates need to be careful in not putting American innovation in danger. Changes made at this critical stage of the public health crisis could subject the most vulnerable patients to drug shortages and delay their access to lifesaving treatments to the coronavirus. On behalf of our members and Latino communities across the United States, we urge the administration and lawmakers to consider other more patient centric alternatives that protect our countries most vulnerable.
SBA Administrator Jovita Carranza, Secretary of Housing and Urban Development Ben Carson and Secretary of Education Betsy DeVos address a global audience of business owners
WASHINGTON, March 6, 2020 /PRNewswire/ -- On March 4, The Latino Coalition (TLC), the nation's leading non-partisan advocacy organization representing Hispanic businesses and consumers, hosted President Donald J. Trump at their Legislative Summit in Washington, D.C.
The event brought together small business owners from around the world with influential U.S. leaders and Cabinet members, including U.S. Small Business Administrator Jovita Carranza, U.S. Secretary of Housing and Urban Development Ben Carson and U.S. Secretary of Education Betsy DeVos.
"The American economy is firing on all cylinders, and Latinos are at the forefront of the economic boom," said Hector Barreto, TLC's Chairman and former U.S. Small Business Administrator. "President Trump and his Administration understand the unique challenges and opportunities of entrepreneurship. They 'get' small business, and the small business community appreciates it! This event was an opportunity to show that appreciation to an administration that has done so much to create an environment where entrepreneurs can succeed."
During his remarks, President Trump said: "The phenomenal achievements of Latino business leaders, entrepreneurs, innovators and workers are lifting our nation to soaring new heights. You are powering the American Dream."
He went on to emphasize how, from the beginning of our Republic, the Hispanic community has been a vital and indispensable part of the American family.
"Latinos have invigorated our economy, expanded our prosperity and poured their heart, sweat and soul into our beloved country. With the hard work, love, and devotion of millions of incredible Hispanic-Americans, our country is thriving, our people are prospering, and our future has…never looked better than it does right now," the President added.
The day-long Legislative Summit served as a platform to discuss economic growth of and policy issues such as procurement, education and regulatory reform. Through high-impact panels and dynamic breakout sessions, attendees were given critical tools and resources, as well as an opportunity to build their professional and personal networks.
Notable guests included: newly confirmed U.S. Small Business Administrator Jovita Carranza; U.S. Secretary of Housing and Urban Development Ben Carson; U.S. Secretary of Education Betsy DeVos; U.S. Rep. William Hurd (TX-23); Jennifer Korn, Deputy Assistant to the President and Deputy Director of the White House Office of Liaison; U.S. Rep. Barbara Lee (CA-13); Ruben Barrales, Senior Vice President, External Relations, Wells Fargo & Company; Dan Bryant, SVP Global Public Policy and Government Affairs Walmart; Eric Hoplin, Head of External Relations for Wells Fargo & Company and Daniel Garza, President The Libre Initiative to name a few.
Newly appointed U.S. SBA Administrator Jovita Carranza spoke on the record-setting tax cuts saying: "If it weren't for the President's tax cuts, we would not have our economy fueled with the vitality we are experiencing and all of the business owners in this room, as well as small businesses I have visited across this nation, are experiencing. It is historic…thank you for being such a friend of the Hispanic community."
Additionally, Chairman Barreto announced new partnerships through cooperative agreements for TLC Matchpoint, the organization's recently launched procurement tool for small business. The agreements included the United States Hispanic Chamber, the Orange County Hispanic Chamber of Commerce, the Virginia Hispanic Chamber of Commerce, the New Jersey Hispanic Chamber of Commerce, the Hispanic Chamber of Commerce Greater Kansas City, the Latin Chamber of Commerce of Nevada, COMSE, San Juan Capistrano and the Indian American International Chambers of Commerce. These organizations join TLC's network of 100+ partners working to enhance the overall business, economic and social objectives of the Hispanic community.
"The Latino Coalition has planned an exciting year convening and engaging with the engine of our economy. We look forward to connecting with businesspeople at the DNC Summit in Wisconsin and the RNC Summit in North Carolina to hear powerful stories of success and continue advocating for valuable pro-business policies that will bolster the entrepreneurial community," Barreto added.
The Latino Coalition would like to thank the following Title Sponsors: Wells Fargo, Walmart, Edison International, Southern California Edison, PG&E, Google, and T-Mobile. TLC also acknowledges and is grateful for all its partners: AltaMed Health Services Corporation, Altria Client Services, AT&T, California Resource Corporation, Comcast Corporation, Cuellar Enterprises, East West Bank, Edison Electric Institute, Ecco Select, Grupo MAGNO, Guardian, Herbalife, Hispanic Business Roundtable Institute, MasterCard, Master Your Card, NCTA, Optimum Seismic, PhRMA, The Latino Coalition Foundation, The Libre Initiative, Tributo Tequila, Univision, US Chamber Institute for Legal Reform, and Verizon.
ABOUT THE LATINO COALITION- The Latino Coalition (TLC) was founded in 1995 by a group of Hispanic business owners from across the country to research and develop policies solutions relevant to Latinos. TLC is a non-profit nationwide organization with offices in California, Washington, DC and Guadalajara, Mexico. Established to address and engage on key issues that directly affect the well-being of Hispanics in the United States, TLC's agenda is to create and promote initiatives and partnerships that will foster economic equivalency and enhance and empower overall business, economic and social development for Latinos. Visit www.thelatinocoalition.com or follow us at #TLCSUMMIT.
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