Small Business | Center for Responsible Lending

There are more than 26 million small businesses in America and 96% of those businesses have fewer than ten employees. The majority of minority and women owned businesses are among these smallest of the small businesses. CRL works to ensure fair treatment and fair lending practices to small business owners who want to start or grow their businesses and strengthen their communities and ensures that regulations do not exacerbate pre-existing inequities in the small business space.

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Comment: The Paycheck Protection Program Continues To Be Disadvantageous to Smaller Businesses, Especially Businesses Owned by People of Color and the Self-Employed

Friday, May 15, 2020

Comment: The Paycheck Protection Program Continues To Be Disadvantageous to Smaller Businesses, Especially Businesses Owned by People of Color and the Self-Employed

CRL's comment to the Small Business Administration on the April 15 Interim Final Rule implementing the Paycheck Protection Program focuses on two key challenges with the PPP to date: The Paycheck Protection Program continues to be disadvantageous to smaller businesses, and businesses without employees. PPP loans can be forgiven if the business is able to use the funds for eligible...

Comment Letter

Small Business

Small Business Support Must Extend to Businesses of Color

Tuesday, May 5, 2020

Small Business Support Must Extend to Businesses of Color

The Small Business Administration Paycheck Protection Program (PPP) has failed to fairly serve businesses owned by people of color, causing spill-over harms throughout communities of color, states, and regions. Businesses owned by people color are a substantial source of income and employment—accounting for more than 8.7 million jobs at total annual payroll of $280 billion, and $1.3 trillion in revenue-yet...

Policy & Legislation

Small Business

Ensuring Minority Depository Institutions and Community Development Financial Institutions Get Fair Share of Funds Allocated by the Paycheck Protection Increase Act of 2020

Sunday, April 26, 2020

Ensuring Minority Depository Institutions and Community Development Financial Institutions Get Fair Share of Funds Allocated by the Paycheck Protection Increase Act of 2020

From the letter to Secretary Mnuchin: The undersigned civil rights, faith, and community development organizations write to seek that you direct the Small Business Administration (SBA) to designate that Community Financial institutions (CFIs) receive one-third of the $30 billion set aside for three groups of lenders—CFIs, small insured depository institutions, and credit unions—pursuant to H.R. 266, the Paycheck Protection Program...

Letters to Congress

Small Business