The Small Business Administration (SBA) and Department of the Treasury re-opened the Paycheck Protection Program (PPP) this week, providing critical relief to Mainstreet businesses nationwide. To promote access to capital and equitable opportunities, only community financial institutions (CFIs), including Community Development Financial Institutions (CDFIs), are permitted to make first and second draw loans during the initial re-opening phase of the program. The Administration announced the program is set to re-open to all participating lenders in the coming days. Click the link to learn about the program’s updated rules.
It’s in the national interest to make becoming an entrepreneur as egalitarian as possible, and yet the U.S. has fallen remarkably short of that goal across both race and gender.
Source: Tech Crunch
After the pandemic knocked the wind out of our economy, recovery plans focused mainly on saving existing small businesses rather than breathing life into new ones. Yet entrepreneurship is critical to emerging from the Covid-induced recession.