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Kamala Harris announces $1.25 billion effort to help small businesses
Vice President Kamala Harris announced Tuesday that the Biden administration is distributing $1.25 billion to hundreds of community lenders in an effort to help boost the economic recovery from the coronavirus for small businesses and disadvantaged business owners.
"President Joe Biden and I knew that more than repair, we must re-imagine our economy," Harris said during an event at the White House. "Small businesses, of course, are at the center of this re-imagining."
The funds are going to more than 860 community development financial institutions, or CDFIs, around the country. CDFIs offer loans to small businesses and those who may be turned down for loans from major banks, a problem that studies have shown particularly plagues minority business owners.
-snip-
Treasury Secretary Janet Yellen also joined Harris at the event, and said that the CDFI fund delivered on Biden and Harris' campaign-trail promise to tackle systemic racism and build an economy "that works for everyone." - American Independent
"President Joe Biden and I knew that more than repair, we must re-imagine our economy," Harris said during an event at the White House. "Small businesses, of course, are at the center of this re-imagining."
The funds are going to more than 860 community development financial institutions, or CDFIs, around the country. CDFIs offer loans to small businesses and those who may be turned down for loans from major banks, a problem that studies have shown particularly plagues minority business owners.
-snip-
Treasury Secretary Janet Yellen also joined Harris at the event, and said that the CDFI fund delivered on Biden and Harris' campaign-trail promise to tackle systemic racism and build an economy "that works for everyone." - American Independent
Damn! Democrats are hard working public servants!!!