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CDFIs Outperform Other Paycheck Protection Program (PPP) Lenders

June 30 marks the last day lenders may submit Paycheck Protection Program (PPP) applications on behalf of small businesses. Since early April, millions of small businesses have received PPP loans, which in most cases become grants if the small business meets certain conditions. While initially sidelined, once CDFIs were brought in as PPP lenders they swiftly mobilized to help many of the smallest of these businesses—and recent data shows CDFI performance outpaced the larger lenders in the program.   

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