With $10 million loan from PNC, ECDI makes a big push of PPP

With $10 million loan from PNC, ECDI makes a big push of PPP loans to underserved businesses in program's remaining weeks


March 10, 2021 01:20 PM
With $10 million loan from PNC, ECDI makes a big push of PPP loans to underserved businesses in program's remaining weeks
Tariq Tarey
Angelique Patton and Michelle Williams, owner and assistant director of On Trac LLC, a Cleveland commercial cleaning company and client of the Economic Community Development Institute.
PNC Bank is pumping $10 million into the Economic Community Development Institute, a Columbus-based nonprofit with offices across the state, to help it fund Paycheck Protection Program loans for underserved and minority business owners across Ohio amid the PPP's remaining weeks.
This current round of the U.S. Small Business Administration's PPP is slated to end March 31. However, many organizations and small business advocates are urging lawmakers to extend the program to serve additional needs that have yet to be met for one reason or another. Of concern in recent weeks is delays with submitted applications stalling out due to errors in processing. In a March 3 letter to Congress, the U.S. Chamber of Commerce asked the PPP to be extended through the rest of 2021.

Related Keywords

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