Minority, Women-Owned Businesses Get First Bid on New PPP Loans

Jan. 7, 2021, 4:02 PM

Community lenders serving minority and women-owned businesses will have exclusive access to a new pot of Paycheck Protection Program loans for at least two days when the next round of money becomes available, according to new rules from the Small Businesses Administration.

The SBA didn’t say when that next round of lending would open. The guidance, released late Wednesday, says the SBA will put its focus on ensuring that under-served businesses can tap the latest round of funding, including matching loan inquiries to small lenders, dedicating hours to assisting small PPP participants and getting more community development financial institutions ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.