A Fresh Start
The MStreetX Newsletter
Friday, January 22, 2021
A New Dawn, A New Day
MStreetX's newsletter continues to bring you the top stories and breaking news that impacts business, and the economy.
Biden’s Covid-19 Relief Plan
Biden presented a $1.9 trillion, 100-day “American Rescue Plan” to address the pandemic and economic recovery, which includes $400 billion to accelerate vaccine deployment and safely reopen schools, $350 billion to bridge state and local government budget shortfalls; a $15 minimum wage and other unemployment benefits; $1,400 direct payments to individuals, paid leave for workers with Covid-19 or caring for family members, and child care and eldercare subsidies. The plan would cover 106 million more people than last year. Source 1, 2
MStreetX is live!
Investing in a place-based inclusive FinTech Solution to support Small Business and Entrepreneurs has never been easier.
At MStreetX we believe that everyone should have access to opportunities, and resources. We wanted to create a place based platform that focuses on inclusivity and remove barriers to minorities, under servered communities, and all others. Click here to learn more.
PPP Round Two Loans Available
The Small Business Administration re-opened the Paycheck Protection Program loan portal to eligible lenders with up to $1 billion in assets and small businesses with up to 500 employees. At least $15 billion for First Draw PPP loans will be for companies up to 10 employees or for loans up to $250,000. First Draw PPP Loans for full loan forgiveness during the 8- to 24-week covered period if...
· Employee and compensation levels are maintained;
· Loan proceeds are for payroll costs and eligible expenses;
· At least 60 percent is spent on payroll costs.
For special carve-outs and programs for businesses meeting certain requirements you can find more here, and here.
MStreetX's Vaccine Distribution Resource Tool
At MStreetX we are working on multiple ways to help small businesses recover from the pandemic and open safely. We want to do more by impacting the various communities of this nation and supporting each other through these tumultuous times. We realize with the assests we built, and leveraging the relationships we have made, we are in a unique position to optimize our resources for a needed tool. Our team developed the Vaccine Distribution Resource Tool (VDRT), to universally and inclusively support everyone with the covid vaccine.
MStreetX is working with multiple state governments to bring this tool to you. We are excited to support in the effort of making Covid-19 a distant memory. If you are interested in partnering with us in rolling the VDRT out in your state, please email us at: firstname.lastname@example.org
Together we shall overcome!
First Digital Asset Bank Approved
Anchorage Digital Bank has received conditional approval by the federal Office of the Comptroller of the Currency (OCC), making it the first bank to handle crypto assets. Last July, OCC permitted U.S. banks and savings associations to manage digital currency payments and transactions. Anchorage was already blurring the gap between BitCoin, crypto and Wall Street through security tokens. This conditional approval will stimulate investment into crypto competitors and by major investors as the rules and regulations become clearer. Source 1, 2, and 3
SPAC Mobility Market Booming
The EV market is one of the hottest industries today. In late 2020, EV companies moved beyond VCs and corporate backers and merged with SPACs (special purpose acquisition companies) to raise money in the public markets. The new Mobility SPAC Index generated a return of 77.7%, compared for the 22.2% return of the S&P 500 and 27.4% of the Nasdaq 100. SPACs are already changing the face of public offerings, which will soon be joined by direct listings. Source