COVID-19: Reminders on the Paycheck Protection Program (PPP)

Following up from requests on this month’s leg/reg call, I wanted to remind NCRC members that the Paycheck Protection Program (PPP) [1] has been extended and is still accepting loan applications. The new deadline to apply for a PPP loan is August 8, 2020. And, you can find eligible PPP lenders [2] by zip code here:

Also as a reminder, in addition to banks, some Community Development Financial Institutions (CDFIs) are also PPP lenders. In April, the federal CARES Act included both CDFIs and Minority Depository Institutions (MDIs) within a “set aside” of at least $30 billion in lending authority [3]. On May 28th, the U.S Treasury and SBA went further to ensure $10 billion in PPP funding is specifically for CDFIs to lend with the hope that more very small, minority- and women-owned businesses would be served. Since that time, 303 CDFIs have made 106,269 loans valued at over $7.3 billion dollars, according to SBA data [4].

Loans are still available and can be forgiven [5], so make sure to apply if you need assistance!

For more information, contact Gerron Levi, Director of Government Affairs

National Community Reinvestment Coalition; phone: 202-464-2708; email:; address: ​740 15th Street NW, Suite 400, ​Washington DC 20005

[6] tel:202-464-2708

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