Update: PPP Loan Data Continues to Show that Big Bank Consolidation has Hampered Small Business Relief

After Congress authorized a second round of PPP funding in May, news stories suggested that the big banks, like JP Morgan Chase and Bank of America, were picking up the pace and catching up to small banks. Yet data on total PPP lending through June 6 continue to show that a greater presence of big banks in a state correlates with fewer relief loans made to small businesses.… Read More

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Fighting COVID-19: How Gamification Can Reenergize Local Government and Help Save Small Businesses

The first COVID-19 related campaign that was designed to encourage local consumption was called “The Local Shoppers Challenge.” This one campaign generated $145,000 in local economic activity within just two weeks, at a time when COVID-19 was shutting down the economy. Colu launched this campaign in partnership with the Tel Aviv Foundation, which works to help disadvantaged communities in the city. The campaign features a digital punch card; when the card is used four times at local businesses for a transaction of at least NIS 20 (~US $6) each, residents are granted a one-time reward of 35 Tel Aviv coins (~US $10). This award is only offered to residents that complete the entire challenge (four qualifying transactions).

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