Bennet Welcomes Extension of PPP Funding to CDFIs

Senator Continues to Urge More Support for Hardest-Hit and Underserved Businesses Through COVID-19 Pandemic

Denver – Today, Colorado U.S. Senator Michael Bennet issued the following statement after the U.S. Department of the Treasury and Small Business Administration announced they will set aside $10 billion for Community Development Financial Institutions (CDFIs) to participate in the Paycheck Protection Program (PPP). Bennet has been urging more support for the hardest-hit and underserved businesses since the launch of PPP two months ago:

“CDFIs will play a critical role in ensuring underserved businesses, which have been hit especially hard during this public health and economic crisis, have access to PPP funding. I’m glad the Administration acted on our suggestion. I also encourage the Administration take a close look at the RESTART Act, our bipartisan proposal with Senator Todd Young to support the country’s hardest-hit businesses through the end of the year as the economy begins to reopen.”