Minority small-business owners and community lenders joined us for a virtual event to discuss where they are at this stage of the pandemic, what they need going forward, and who can and should help. Watch on demand.
The Federal Reserve wants to hear about challenges facing Community Development Financial Institutions to help inform policy recommendations and programs. Take the 2021 CDFI survey March 22 – April 23, 2021.
When the COVID-19 pandemic spread here, the Philadelphia Chinatown Development Corporation used Paycheck Protection Program money to help residents and businesses. More support will be necessary.
"Customers told us, 'You saved our businesses. You saved jobs. We wouldn't have made it if you guys weren't here and didn't walk us through this.'"
Throughout 2020, the Federal Reserve surveyed nonprofits, financial institutions, government agencies, and other community organizations to understand the effects of COVID-19 on low- to moderate-income communities and the entities serving them. Here's what they found.
From Jul 20–Aug 14, 2020, the Fed surveyed 229 community development financial institutions during COVID-19. Here's how they responded.
Kansas City’s Steak'M Take'M needed help when the pandemic paralyzed the economy. A lender supporting minority-owned businesses provided PPP relief, made to order.
Germaine Simonson owns essential businesses in Arizona's Navajo Nation. Parched for support, she turned to a rural lender to get through the pandemic dry spell.
PPP money has reached a range of businesses, but it didn’t come easily for many. An accounting firm in Los Angeles experienced the struggle on behalf of its clients—and firsthand.
Thanks to a PPP loan, San Francisco-based Tommy’s Mexican Restaurant has kept people working and margaritas pouring during the COVID-19 pandemic.