Opinion

Inclusive leadership proves effective and meaningful for Black entrepreneurs

Specific to lending, numerous reports show that small, Black-owned businesses were largely shut out of the Paycheck Protection Program. The unfortunate fallout over PPP lending provides a recent example of the economic inequity too often experienced by African-Americans. Now legislators and organizations are pushing for set-asides in potential future funding rounds to ensure minority entrepreneurs gain access to PPP funds that were intended for all entrepreneurs in the first place. [Continue]

Navigating the pandemic

There is a “hunkering down” mentality among managers in this environment. That’s understandable. Almost no organization can realistically plan for record earnings this year. But let’s not close our minds to the possibility of opportunity. Despite a lack of precedent and a lack of information, you will need to make important decisions in the coming months to navigate this environment. [Continue]

Who was the intended PPP target?

Who were the intended PPP grant recipients? At first, it was any company with fewer than 500 employees but then companies with access to other sources of investment, particularly the capital markets, were deemed ineligible. As news about the program spread, some suggested that profitable companies shouldn’t be eligible for the money. [Continue]

#QuickTakes: Shawn Rost

Shawn Rost, immediate past chair of the South Dakota Bankers Association, relates the ups and downs of local ag, loan demand and tourism, describes how adoption of technology and working from home have accelerated, and shares FDIC Chair Jelena McWilliams message to SDBA bankers at their annual convention. [Continue]

How to stay connected while working far apart

Intentionality is the key to maintaining your relationships. Schedule a set date and time each month for a one-on-one meeting. Set an agenda to make sure important topics such as high payoff activities, behavioral and business goals are discussed. Consider these meetings non-negotiable and do not get in the habit of rescheduling, as this sends your team member the wrong message. [Continue]