By Patty Juarez, Head of Diverse Segments for Wells Fargo The Federal Open Market Committee (FOMC) increased rates a quarter point from .25% to .50% in March – the first time since 2018 – and is expected to raise short-term rates six more times this year. Russia’s invasion of Ukraine is also causing tremendous human and economic hardship worsening upward pressure on inflation in the U.S. With rates on the rise and growing costs of supplies and services, what does this mean for small business owners? Rates on the rise Interest rate hikes could fuel more costly borrowing, greater credit …

“For I was hungry, and you gave me food, I was thirsty, and you gave me drink, I was a stranger and you made me welcome, lacking clothes and you clothed me, sick and you visited me, in prison and you came to see me.” – Matthew 25:35-36 This deep-rooted belief in serving poor families in everything we do at the Raza Development Fund. That’s why RDF is proud to host a clothing drive starting today, Wednesday, April 20 – Friday, April 29 for immigrant refugees as we strive to lend them a hand along their difficult journey. Recently, Tom …

Raza Development Fund’s Small Business Initiatives team is committed to supporting our micro and small businesses. Due to recent pandemic closures and constant changes, our small businesses have been hit hard, with many struggling to keep their doors open. According to the Small Business Administration, SBA, small businesses are the lifeblood of the U.S. economy creating two-thirds of net jobs. It’s imperative to support our small business owners, especially during these turbulent times. At RDF, we’ve supported 489 small businesses through the SBA’s Paycheck Protection Program (PPP) loan process. Last year, our Hope Fund provided grants to 111 small businesses. …