The CDFI Guide to Community Recovery
Women and minority-owned businesses have been disproportionately hurt by the COVID crisis, with the economic relief program stacked against them from the start.
When we examine the so-called safety net created to bolster small businesses throughout COVID—like the Paycheck Protection Project (PPP)—there are huge discrepancies. Among those business owners who disclosed their race on their PPP loan application, Black-owned businesses received just 1.9% of loans, while white-owned businesses received 83%.
CDFIs enjoy a positive (and well-deserved) reputation for supporting women and minority-owned businesses, and the government response has been overwhelmingly favorable for CDFIs as well. So how can mission-driven CDFIs make their capital go further? In LendingFront's latest white paper, we'll show you how.
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