Business

Harris Promises 1 Million Forgivable Loans for Black Businesses

As she continues to try to connect with Black male voters, Vice President Kamala Harris on Monday promised to offer 1 million business loans to Black entrepreneurs. The Harris campaign announced the plan via its website, which notes “Donald Trump is a serious threat to the lives of Black men.” These forgivable loans could reach as high as $20,000 in value, the site reads. “Vice President Harris is laying out an agenda to give Black men the tools to build wealth and achieve financial freedom, lower costs for themselves and their families, and protect their rights—addressing the issues that Black men across the country have told her are their top concerns,” the campaign wrote.

Published

1 year ago

October 21, 2024

Oakland Post

U.S. Vice President Kamala Harris said the loans would be in amounts up to $20,000. Official photo.

By Jackson Walker
CBS News Austin

As she continues to try to connect with Black male voters, Vice President Kamala Harris on Monday promised to offer 1 million business loans to Black entrepreneurs.

The Harris campaign announced the plan via its website, which notes “Donald Trump is a serious threat to the lives of Black men.” These forgivable loans could reach as high as $20,000 in value, the site reads.

“Vice President Harris is laying out an agenda to give Black men the tools to build wealth and achieve financial freedom, lower costs for themselves and their families, and protect their rights—addressing the issues that Black men across the country have told her are their top concerns,” the campaign wrote.

Harris’s economic plan centers on wealth-building and supporting Black entrepreneurship. Her administration would provide 1 million forgivable loans, each up to $20,000, to help Black men and others who have faced significant barriers to starting a business.

By partnering with community banks and mission-driven lenders, Harris aims to make capital accessible to Black entrepreneurs looking to launch or expand businesses in fields ranging from technology to landscaping and beyond.

Additionally, Harris has proposed a significant expansion of the Small Business Startup Tax Deduction, increasing it from $5,000 to $50,000, which would allow Black entrepreneurs to offset startup costs.

She also plans to boost access to venture capital, low-interest loans, and incubators specifically for Black-owned businesses.

Recognizing that Black entrepreneurs are frequently denied credit, Harris’s plan includes reforms to expand affordable banking services and crack down on hidden fees that inhibit wealth accumulation in Black communities.

Other initiatives laid out in the release include launching a “National Health Equity Initiative” specifically targeting Black men. The campaign also touted its support of legalizing marijuana and lowering rent prices.

“Trump’s Project 2025 Agenda doubles down on his mistreatment of Black men and their families,” the campaign wrote of its political opposition. “He will erase four years of financial gains and job growth for Black men and leave their communities worse off for it.”

The proposal is just one of several initiatives Harris has proposed to court those frustrated by the state of the economy. The vice president also suggested in September she would offer $25,000 in federal down payment assistance to all first-time homebuyers.

“I grew up a middle-class kid,” Harris said during a conversation with the National Association of Black Journalists. “It was only by the time I was a teenager that [my mother] could afford to buy her first home.”

NNPA Newswire contributed to this report.

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

3 weeks ago

March 17, 2026

Oakland Post

Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC