A non-profit lender has already received more than $1B in loan requests from small businesses — they usually loan under $30M a year. - NBCLatino
When the announcement was made, LiftFund opened its application process to ensure business owners could get applications in swiftly for the next round of the paycheck program funding, Janie Barrera, LiftFund president and CEO, said.
“I think this shows the deep need and it’s a wakeup call to our community that more needs to be done,” she said., a CDFI in Austin and Dallas, said BCL was flooded with calls after she did a Spanish-language television interview about a week ago. Many of the calls are from Latinos who say their banks won’t process their loan requests or that their bank has cut them off.
She said she was delighted to see the new money from Congress, even if she’ll have to compete with smaller banks for it.After getting the $20,000 Paycheck Protection Program loan he secured, Quintero returned workers to their full hours. The program's loans are forgivable if they were used for payroll. With that covered, the business Quintero still gets from loyal customers has allowed him to keep his restaurant running, even if it is reduced to takeout and delivery.
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