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Tag: Small Business

Wells Fargo Launches $400 Million Small Business Recovery Effort

In April 2020, Wells Fargo CEO Charlie Scharf made an industry-leading commitment to donate all gross processing fees from the Paycheck Protection Program back…

July 9, 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

JPMorgan Chase Institute Releases Report on Early Impact of COVID-19 on Small Business

The JPMorgan Chase Institute has released research on the early impact of COVID-19 on small business finances—including cash balances, revenues, and expenses—during the…

June 24, 2020

News

Google Announces New $50 Million Investment in CDFIs and Black Community

On June 17, Alphabet and Google Sr. Vice President & CFO Ruth Porat published a blog post regarding the company’s commitment to helping small businesses…

June 18, 2020

News

OFN Announces First Round of Google Loans and Google.org-funded Grants

On June 17, OFN announced the first round of Grow with Google Small Business Fund loans and grants funded by Google.org. Five…

June 17, 2020

News

Pennsylvania CDFIs to Administer $225 Million in Grants to Small Businesses Impacted by COVID-19

On June 8, Pennsylvania Governor Tom Wolf announced a $225 million statewide grant program to support small businesses impacted by the COVID-19…

June 9, 2020

News

CDFI Locator Sees 336% Increase in Traffic Amid Pandemic

The CDFI Locator (Locator) is a valuable resource for finding CDFIs that can fulfill a wide range of specific needs for people and communities…

June 9, 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