[Community Banking]
Rep. Waters: “During this crisis, CDFIs and MDIs have provided a financial lifeline and have been very effective at getting much needed capital and relief to communities of color…This legislation is designed to provide resources to that pipeline.”
Photo: YouTube
[ONEUNITED BANK\SBA PAYCHECK PROTECTION PROGRAM]
OneUnited has unique access to $30 billion of stimulus funding that was allocated to Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) as part of the second round of PPP.
Photo: OneUnited Bank
[Community Financial Institutions]
The PPP allows financial institutions to provide forgivable loans to small businesses so they can keep employees on their payroll while having additional funds to pay rent, utilities and other costs.
Photo: YouTube
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