COVID-19
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.'"
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.
When a small business falls under the radar of the nation’s largest lenders during a pandemic, community development financial institutions and minority depository institutions (MDIs).