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COVID-19 has hit Black and Latinx communities immensely over the past few weeks, leaving many unemployed and without proper resources to fight against the virus. As a response, PepsiCo, Inc. and The PepsiCo Foundation has partnered with the National Urban League and UnidosUS to donate $7 million to devastated communities of color, according to a press release. “COVID-19 has once again put a spotlight on the deep-rooted health and economic disparities that have long faced communities of color,” said the CEO of PepsiCo Foods North America, Steven Williams, in a statement . “In response to this, we’re helping to provide immediate relief and support long-term recovery for Black and Latino communities. But just as these inequities existed well before coronavirus, we will continue to do our part and be a partner to these communities in the months and years ahead.” In an effort to effectively help communities of color, PepsiCo identified several metropolitan areas in the country where they...
Small business owners are anxiously waiting to see if Congress will inject more money into the Paycheck Protection Program (PPP), the federal rescue program that failed to reach the vast majority of small businesses it was intended to help the first time around. A new LendingTree survey found that just 5% of business owners have received a PPP loan, though 60% had applied for funding. Survey respondents were eager to submit their applications once the program opened, but many struggled to communicate with bankers as the entrepreneurs’ financial situations further deteriorated — and then the $349 billion emergency funding ran out of funds after 13 days. Many of the 1,260 small business owners surveyed expressed their frustrations. “I’ve kept my employees on payroll even though we closed because it is the right thing to do,” one respondent said. “Unemployment in our state is only $275 per month. They can’t live on that. Now, I’m in limbo waiting for the PPP money. I have no idea when,...
Eighteen-year-old Kehlin “King” Farooq II had one wish for his birthday — to supply the masses with hand sanitizer. The aspiring engineer is the founder and creator of GermAtize , a hand sanitizer company located in Houston, TX. Farooq’s idea to create a hand sanitizer came about in 2019 after his mother, a pharmacist, began to have early conversations with her colleagues about the coronavirus. Not even a full calendar year later, COVID-19 has made its way to the United States, leading stores to quickly sell out of much-needed necessities, including hand sanitizer. Observing the lack of hand sanitizer, Farooq approached his dad and explained his idea of developing his own hand sanitizer product. His father reached out to a friend who owns a laboratory, and the rest is history. GermAtize is now a reality. According to its website, GermAtize is a hand sanitizer and soap that kills 99.9 percent of germs in 30 seconds or less. Check out how Farooq’s father took to his Twitter to spread...
The CARES Act stimulus checks may offer some relief to taxpayers amid the coronavirus outbreak, but distribution may pose a problem for the millions who don’t use direct deposit to receive their tax refunds. In 2019, 19.8 million taxpayers waited longer for their tax refunds to arrive via paper check. Today, these same taxpayers will have to wait longer again — potentially up to an additional three months — for their stimulus checks. MagnifyMoney looked at the 100 largest metro areas in the U.S. to determine where taxpayers used direct deposit the most (and least) to receive their 2018 tax refund. Cities with the highest percentages of check-receiving taxpayers are where people will likely wait longer for financial relief to arrive. In this review, we’ll cover: Key findings Where taxpayers may have to wait longer for their stimulus checks What to do if you didn’t use direct deposit File your 2019 tax return as soon as possible Provide your banking information to the IRS online Open...