Policy makers are trying to ensure that communities underserved by traditional banks are getting access to a small-business coronavirus loan-relief program, but it has turned out to be more of an art than a science.
When the Small Business Administration released the application form for the forgivable loan program, there was no instruction for lenders to collect optional demographic information. The agency’s inspector general in a recent report noted that omission and said “it is unlikely that SBA will be able to determine…
https://www.wsj.com/articles/policy-makers-aim-to-ensure-underserved-communities-have-access-to-ppp-loans-11590937200