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Pioneering Efforts: Johnson Fulfills his Vision
Johnson’s stint at Supreme Liberty Life Insurance had inspired him to go off on his own. He had the desire, he had the energy, but what he was sorely lacking was capital to start his company. Few were eager to give their money to an unknown African American entrepreneur with little previous experience in the business world. He even tried his luck with the First National Bank of Chicago, which he had approached for a $500 loan. “I’m one of First National’s premium customers today,” Johnson later recalled. “But the assistant to the assistant that I managed to see in 1942 laughed in my face. ‘Boy,’ he said, ‘we don’t make any loans to colored people.’”

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Pioneering Efforts: Johnson Fulfills his Vision
Johnson’s stint at Supreme Liberty Life Insurance had inspired him to go off on his own. He had the desire, he had the energy, but what he was sorely lacking was capital to start his company. Few were eager to give their money to an unknown African American entrepreneur with little previous experience in the business world. He even tried his luck with the First National Bank of Chicago, which he had approached for a $500 loan. “I’m one of First National’s premium customers today,” Johnson later recalled. “But the assistant to the assistant that I managed to see in 1942 laughed in my face. ‘Boy,’ he said, ‘we don’t make any loans to colored people.’”

What is a Small Business Administration (SBA) Loan?
As a new entrepreneur looking for capital, one of your first options for a loan will be a SBA-backed loan. SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. (You are still liable for the loan, so your obligation does not go away) This makes it easier for banks to lend to budding entrepreneurs, but it does not mean that the bank can lend indiscriminately. The bank will analyze the application to protect its interest as well as the SBA’s.
Wanted: jobs for Africa’s youth - Job Plans
However, most countries have not yet incorporated job creation plans into their national development frameworks. The national strategies include anti-poverty programmes, commonly based on Poverty Reduction Strategy Papers (PRSPs). These are documents developed with assistance from the World Bank and the International Monetary Fund (IMF) to set national priorities, direct spending of debt-relief funds and coordinate donor programmes.

Central Bank of Nigeria (CBN) Approves Conversion of Community Bank into Microfinance Institution (MFI)
The Central Bank of Nigeria (CBN) has approved the conversion of the Olabisi Onabanjo University Community Bank Limited into a microfinance bank. The community bank has operated on the campus of Olabisi Onabanjo University in Ago-Iwoye, Nigeria since March of 2003, and the majority of its shareholders are affiliated with the university. One source reports that, in its first year in business, the bank made a surplus that was “far in excess of its total paid up capital,” but no other sources were found to corroborate this information and no further information was found on the OOU Community Bank.
The National Microfinance Bank of Tanzania helps Bail out the Tanzania Electric Supply Company (Tanesco) with a USD 56million Loan
The National Microfinance Bank of Tanzania has joined a syndicate of local banks and pension funds to lend USD 238million to Tanesco, the parastatal electricity company, wholly owned by the Tanzanian government, money which will be used to pay off debts to suppliers and invest in new equipment. The National Microfinance Bank was founded in 1997, and is the third most profitable bank in Tanzania, holding USD 430million in deposits and assets. The loan to Tanesco supports NMB’s business interests, as well as those of its customers, as it organises collection services for the electricity firm via its network. Currently the Tanzanian government owns 51% of the bank, having sold off the remainder of its stake in 2005. The loan syndicate involved in the bail out includes five banks and four pension funds all from Tanzania.
The Swiss Flex their Muscles by Intervening in their Currency Again!
Oh the Swiss Central Bank (Swiss National Bank - SNB) is at it again! They are intervening in the currency market by selling their currency (furiously, I might add)!

The Day our Icons let us down
In the seventies Marks and Spencer plc, in UK was the icon of the retail industry. Everyone used M&S as a benchmark by which they measured their performance and aspired to achieve. National Westminster Bank was the biggest bank in UK and the bank that handled the Bank of England. British Airways was the major airline in the world and a company that other airlines looked up to. There were similar organizations in North America as well and other parts of the world. Then the world changed. In the 80’s the world shifted gear. The icons were found to be set in their traditional ways. In fact all three of these companies were challenged to the level that they nearly disappeared.
The Roles And Responsibilities Of The Canada National Bank
Canada National Bank is the central bank of Canada. Although, it is important to know that it is not a government department. It is rather a crown corporation owned by the government. Though its activities are almost independent, its earnings go to the federal treasury and shares are directly held by the finance ministry. Besides that, it is not the federal public service agency but the bank itself that regulates the employees of this bank. It was after the introduction of the 1934 Bank of Canada Act that gave this bank the monopoly on the issuance of banknotes. The value of the Canadian dollar depends upon the actual amount of money created by this bank. Its main task is to promote the financial and economic well being of Canada.

Chicago "Street Food"
We road tripped to Chicago to forage for top notch Deep Dish Pizza, Italian beefs and Chicago hot dogs. We found some fabulous food and some very helpful new friends. Read on to find a couple of places to stay away from.
How to get bank funding in five essential steps
As we all know, persuading your bank to give you funding is a much trickier business that it used to be. So if you're an entrepreneur or growing company relying on bank finance, it is essential to have a healthy relationship with your bank.
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