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PPP Loan Restart Working Well for Small Lenders

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Manage episode 282865297 series 1461619
Contenido proporcionado por Bloomberg Tax. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Bloomberg Tax o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.

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.

  continue reading

339 episodios

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Manage episode 282865297 series 1461619
Contenido proporcionado por Bloomberg Tax. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Bloomberg Tax o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.

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.

  continue reading

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