The pandemic is accelerating the demise of the middle class, leaving many unable to sustain financial independence. In Silicon Valley and elsewhere, middle-class workers have found themselves unable to make rent.
Headquartered in Sacramento, Golden Pacific Bank is unique as the region’s only community-owned bank that manages under $1 billion — a fact that CEO Virginia Varela takes great pride in. “We understand what it takes to support the needs of our small local businesses, because we too are a small local business,” she says. “Small businesses make up the backbone of our region, and we take our mission to support, foster and uplift this community with great pride and integrity.”
The pandemic has revealed how manufacturers can pivot and innovate quickly to make needed products, keeping the critical supply chain going.
When there is change in consumer behavior, there are also opportunities for entrepreneurs with vision, access to capital and the skill to implement successfully.
Developers are working to strengthen the Capital Region’s competitive advantages and redefine its value proposition for businesses looking to move or expand.
Here’s what financial planning experts in the Capital Region say young adults can think about to stay alive financially through 2020 and beyond.
On June 5, President Donald Trump signed an extension as part of the Paycheck Protection Program Flexibility Act, allowing business owners 24 weeks, instead of eight, to use loans. Brett Sargent explains the options.
It’s still early to fully gauge what effects the coronavirus economic shutdown will have on the pension landscape, but the preliminary outlook for certain parts of the industry, particularly with defined-benefit plans, isn’t encouraging.
In the midst of the COVID-19 pandemic, nonprofit organizations are hit hard by economic uncertainty. In their quest to help our most vulnerable populations, nonprofits themselves need our help. With so many individuals and businesses affected, it’s critical to prioritize nonprofit support.
UCLA researchers predict that California’s economy will get hit harder by the coronavirus than most U.S. states. However, the Greater Sacramento Economic Council is already leading the local recovery effort.