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Scram Big Banks: Small Lenders Take Over SBA Lending Program (For A Night)

NPR
April 29, 2020

The Small Business Administration on Wednesday will temporarily allow only the smallest financial institutions to access the small business coronavirus relief program, known as the Paycheck Protection Program.

The move to restrict access comes after concerns that the smallest of businesses, and particularly those owned by people of color, were shut out of the first round of the program, which ran out of money in 13 days.

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