| Covid-19 | Jun 2, 2020

SBA and Treasury Set Aside $10 Billion for Paycheck Protection Program (PPP) Loan Approvals by Community Development Financial Institutions (CDFI)

SBA and the Treasury Department are setting aside $10 billion of the $321 billion authorized by the PPPHCE Act for the PPP exclusively for CDFI lenders. As of May 23, CDFIs had approved $3.2 billion of PPHCEA-authorized PPP funds, leaving $6.8 billion to be fulfilled as part of the new set-aside.