Support Must Extend to Main Street Small Businesses and Businesses of Color in Next Relief Package
WASHINGTON, D.C. – Today, the Small Business Administration announced that it exhausted its $350 billion funding capacity and is unable to accept new applications. Congress has not been able to agree on how to update the agency’s Paycheck Protection Plan (PPP), a provision of the CARES Act designed to provide forgivable loans to small businesses during the COVID-19 pandemic. Read the policy recommendations. (PDF) Center for Responsible Lending (CRL) President Mike Calhoun made the following statement: We urge lawmakers to agree on a deal that meets the several critical emergency needs