PPP Loan Restart Working Well for Small Lenders

What this episode covers

The second round of the Paycheck Protection Program reopened with fewer bumps for struggling businesses and small lenders that work with under-served communities. The program, revived by the latest Covid-19 relief law, facilitates government-backed small business loans that can be forgiven if used to cover employee salaries and other eligible expenses. The relaunch gave a head start to small lenders, including community development financial institutions, which serve individuals and businesses that don't have access the regular banking system. On the latest episode of our weekly podcast, Talking Tax, Bloomberg Tax reporter David Hood speaks with Tommy Espinoza, president and CEO of Raza Development Fund. The Phoenix-based lender, which has more than $400 million in assets, offers loans and technical assistance to the Latino community. Espinoza discussed how his organization managed a deluge of PPP applications in the first week and offered suggestions to further improve the program.

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Frequently Asked Questions

How long is this episode of Talking Tax?

This episode is 10 minutes long.

When was this Talking Tax episode published?

This episode was published on January 21, 2021.

What is this episode about?

The second round of the Paycheck Protection Program reopened with fewer bumps for struggling businesses and small lenders that work with under-served communities. The program, revived by the latest Covid-19 relief law, facilitates government-backed...

Can I download this Talking Tax episode?

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