News Congress Includes CDFI Provisions in Bipartisan COVID Relief Legislation As the year comes to a close, Congress continues to negotiate legislation to provide much-needed COVID relief but has yet to vote… December 15, 2020
News Chairwoman Velazquez Includes CDFIs in End-of-Year Legislative Push As the 116th Congress draws to a close, House Small Business Committee Chairwoman Nydia Velazquez (D-NY) continues to advance legislation that would enhance… December 15, 2020
Voices DreamSpring Offers Affordable Alternative to Predatory Loans with Wells Fargo Grant This post was written by OFN Blog guest author Mary Perkins, Director of Philanthropy, DreamSpring. DreamSpring is a recipient of a Wells… September 28, 2020
News SBA Announces New Community Advantage Recovery Loan Program The Small Business Administration (SBA) recently announced a new COVID-19 recovery program, the Community Advantage (CA) Recovery Loan Program, that allows eligible CA Lenders… July 22, 2020
News CDFIs Outperform Other Paycheck Protection Program (PPP) Lenders Updated July 8, 2020 August 8 is the new deadline for lenders to submit Paycheck Protection Program (PPP) applications on behalf of… June 29, 2020
News $10 Billion Set Aside for CDFIs to Make PPP Loans; Increased PPP Flexibility Enacted into Law The Treasury Department and SBA made an announcement on May 28 to set aside $10 billion of round two Paycheck Protection Program (PPP) funding exclusively for Community… June 8, 2020
News PPP Reports Released, New Court Ruling on Borrower Eligibility Recently two reports on the Paycheck Protection Program (PPP) were released. In addition, a U.S. District Court in Michigan ruled that the… May 19, 2020
News OFN Testifies at House Small Business Committee Virtual Forum On May 13, the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access held a virtual forum for their members on the… May 19, 2020
News Paycheck Protection Program: Update on CDFI Eligibility Yesterday, OFN President and CEO Lisa Mensah and other members of the OFN team spoke with U.S. Treasury Deputy Assistant Secretary for… May 7, 2020