A $484 billion relief package was passed that includes $310 billion for the Paycheck Protection Program – $30 billion of which will go to CDFIs, Credit Unions, and community banks with assets of less than $10 billion, plus $60 billion for SBA Economic Injury and Disaster loans and grants.
CAMEO supported money for the CDFIs to do PPP loans and a list of suggestions that would fix PPP. The Department of Treasury has published an updated FAQ on the Paycheck Protection Program.
To discuss the new legislation and explore access to capital options for your clients, join our policy update meeting, which is co-hosted with Small Business Majority.