Three NYU Wagner faculty members have agreed to lend their public-policy expertise to Mayor-elect Eric Adams’
NYU Wagner joins with Union Theological Seminary in presenting a Zoom webinar titled “Sacred Priorities, Faithful Act
Household Response to a Guaranteed Income Policy: Evidence from a Randomized Experiment in Compton, California
Evaluation of a randomized trial on the effectiveness of guaranteed income in Compton, California.
DIGITIZING A SMALL BUSINESS ADMINISTRATION LOAN PROGRAM
Guidehouse is a global consultancy that serves as a Central Servicing Agency for US Small Business Administration (SBA) loan programs. Guidehouse engaged a team to analyze the SBA 504 Loan Program, which provides financial assistance to small businesses for major fixed assets that promote business growth and job creation. The team assessed the digital maturity of the program’s end-to-end lifecycle, identified digital gaps, examined the impact of COVID-19 on loan applications, and conducted interviews with stakeholders. It identified benchmarks by comparing the SBA 504 loan process to conventional mortgage loans with advanced digital processes. The team adopted best practices from its research to create a set of recommendations for digitizing the SBA 504 loan program.
LAUNCHING A GLOBAL YOUTH GRANTMAKING PROGRAM
In 2020, the Global Opportunity Youth Network (GOYN) partnered with the Aspen Institute to launch the Youth Innovation Fund, which provides micro-grants to youth addressing challenges in their local communities related to the United Nations Sustainable Development Goals (SDGs). The Youth Innovation Fund is a new program that lacks rigorous internal protocols and processes for its grant application process. GOYN engaged a team to establish best practices for program management and create a grantee application and evaluation process. The team compiled relevant research on engaging youth around SDGs, identified best practices for establishing youth grant funds, and developed an application and selection framework to guide GOYN in selecting diverse and influential grantees.
SOLVING ECONOMIC INEQUALITY THROUGH PERSONAL LOAN ACCESS
Black and indigenous people of color in the US have less access to low-interest loans, pay high interest on government-backed loans, and pay an average of twice as much as their white counterparts in bank fees. The Lentils team has designed an initiative that employs long-term capital through public and private means to provide low-interest loans and free checking accounts. The team interviewed individuals and business owners to better understand loan barriers, and conducted a comparative analysis of loans by type, region, interest rate, and qualifications. It created a database to help increase seed funding for minority-owned businesses by 8 percent and decrease the average interest rate for personal borrowers in Central Brooklyn by at least 3 percent. The team’s long term goals are to reduce the interest divide by at least 50 percent and restore long-term wealth-building.