Harbor Bank boosts Baltimore

Joseph Haskins, president of Harbor Bank, is among a dozen bankers cited as Best in Black Business exemplars in oruq0Plan: State of Black Business, 14th edition by John William Templeton, co-founder of National Black Business Month.

Michael Grant, president of the National Bankers Association, says, "Our10Plan acknowledges the critical role of African-American banks to close the $30 billion credit gap which trims the sails of the 2.6 million African-American businesses. This data-rich resource convinces anyone of the great power of entrepreneurship to reach the goal of economic parity by 2020.”

Templeton unveiled Our10Plan: African-American economic strategy during a luncheon for the National Black Caucus of State Legislators convention in Los Angeles with new Baltimore Mayor Catherine Pugh. The strategy sets a goal of reaching ten percent of U.S. GDP comprised of income to black businesses and consumers by 2020, which would double the current $1 trillion aggregate black income to $2 trillion. The current aggregate black income is just six percent of the $17 trillion GDP although African Americans are 11 percent of national population. The 2.6 million African-American firms are nine percent of all U.S. businesses.