Joint Letter: Making the Paycheck Protection Program Work for Underserved Small Businesses
Nearly forty consumer and civil rights organizations call on the Trump Administration and the Congress to work together and take the following steps to ensure access to the Paycheck Protection Program for underserved businesses and sole proprietors. Set aside $10 billion for use ONLY by Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), to make this funding available to underserved businesses. Extend the deadline for processing PPP loans until December 31, 2020. For the purposes of granting forgiveness of PPP loans, extend the period during which...