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Optus Bank receives $50 million in deposit funding from PayPal
The Columbia-headquartered bank is the first recipient of a $530 million commitment to support Black and minority-owned businesses and communities announced in June by the online payments system operator.
Upstate credit unions merge, take new name
Anderson Federal Credit Union and SC Telco Federal Credit Union are set to merge in early 2021 after members voted for the decision proposed in late June.
Cash versus credit: Businesses face several considerations
While there is no federal requirement that businesses accept cash, there are reasons some states have passed such legislation, legal observers say. A coin shortage fueled by the pandemic has brought the issue into focus.
Report: Opportunity zones bring $75 billion to vulnerable communities
During his Monday night speech at a virtual Republican National Convention, Sen. Tim Scott highlighted the $75 billion in private capital stimulated in Opportunity Zones, according to a recent report.
Pandemic brings financial concerns into focus
A Columbia-based financial advisor recommends giving each dollar an assignment as a way to keep household budgets on track. Prudential’s Rosalyn Glenn also says the pandemic exposed a general lack of preparedness.
Legal perspective: Are businesses allowed to refuse cash payments?
Lately there has been confusion regarding whether businesses have the ability to refuse cash payments, instead relying solely on credit card transactions or electronic funds transfers such as mobile payment […]
World Acceptance Corp. pays $21.7 million for alleged Mexican bribes
Greenville-based World Acceptance Corp. agreed last week to pay $21.7 million to the U.S. Securities and Exchange Commission, neither admitting nor denying that the company’s former subsidiary violated the Foreign Corrupt Practices Act
Upstate Giving, Aug. 10
Piedmont Technical College’s foundation received $25,000 from the Countybank Foundation for furnishings and equipment at the William H. “Billy” O’Dell Upstate Center for Manufacturing Excellence set to open in the coming months.
SBA names program director for Women’s Business Center
The Small Business Administration has chosen Ana Parra to serve as program director of the SBA’s Women’s Business Center housed at CommunityWorks in Greenville. The SBA earlier this summer announced plans for two centers.
Credit starts to tighten as job losses remain high
By Susan Tompor Detroit Free Press As pandemic emergency relief draws to a close for some renters and others, many struggling consumers could be tempted to cover a few bills […]
Congress considers easy forgiveness for coronavirus loans
Congress is considering a simplified process for forgiveness of Paycheck Protection Program loans, especially smaller loans, the CEO of the S.C. Bankers Association said. Across South Carolina, 63,000 businesses received […]
Countybank processes $61 million in PPP loans
As South Carolina’s PPP loan number tops 64,448 loans at $5.7 billion, according to the latest report from the U.S. Small Business Administration, Countybank processes at least $61 million through the small business financing program.
