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Social media spurring young investor trend
The GameStop short squeeze earlier this year helped fuel teenagers' interest in the stock market and online investing, though parents rate themselves low when it comes to being able to provide information.
Federal court sentences 3 South Carolinians for bank fraud
Three South Carolinians have been sentenced by a federal judge after pleading guilty to bank fraud charges in schemes the government alleges defrauded federal programs intended to aid homeowners at risk of foreclosure.
Coastal Carolina National Bank celebrates new location
The bank will hold a grand opening ceremony at its new Five Points location on Wednesday. The Myrtle Beach-headquartered bank relocated in April from Assembly Street to a larger location with more conveniences.
Mauldin & Jenkins merging with Alabama-based accounting firm
The Alabama-based CPA firm with an office in Columbia is merging with accounting and consulting firm Certified Public Accounts PC. The merger, effective July 1, increase Mauldin & Jenkins' locations across the Southeast to 12.
SOAR Fund begins accepting applications today
The economic recovery loan program is focused on assisting small and minority-owned businesses in 15 states, including South Carolina. Thirteen Community Development Financial Institutions are originating loans purchased by the fund.
Economic recovery loan program to assist 15 states
The SOAR Fund aims to help small businesses and historically underbanked organizations throughout the South. An application portal, scheduled to open in April, will offer loans of up to $100,000.
Banks gear up for second round of PPP loans
Across the state, officials say the level of panic has subsided, but the need among small businesses remains. Columbia-based Optus Bank is already processing 600 applications.
Small S.C. businesses navigate changes wrought by COVID-19
State and federal funds have provided stopgap help as business owners across the state cope with a constantly changing landscape and try to chart a post-pandemic future.
Belk enters debt restructuring agreement
Under the agreement, to be completed through an expedited reorganization under Chapter 11 of the U.S. Bankruptcy Code, Sycamore Partners will retain majority control of the Charlotte-based department store.
South Carolina maintains high bond ratings with 3 major agencies
The state's triple-A ratings from Moody's and Fitch Ratings have been reaffirmed, as has its AA Plus rating from Standard & Poor's, according to S.C. Treasurer Curtis Loftis.
$5 billion approved in first week of PPP loans
Approximately 60,000 Paycheck Protection Program loan applications submitted by nearly 3,000 lenders were approved from Jan. 11-Jan. 17. The program reopened to community financial institutions last week and is now open to all lenders.
United Community Bank opening first Midlands branches
United, headquartered in Georgia with executive offices in Greenville, will open locations on Forest Drive and on Sunset Boulevard on Dec. 14. The bank established a Midlands presence in 2019.
