Readout from a Treasury/Small Business Administration (SBA) Roundtable Discussion with Minority Depository Institutions

WASHINGTON – On July 30, 2020, Deputy Secretary of the Treasury Justin Muzinich, U.S. Small Business Administration (SBA) Administrator Jovita Carranza, and other senior Treasury and SBA officials participated in a roundtable discussion with National Bankers Association Chairman Kenneth Kelly and executives from several minority depository institutions (MDIs).  The discussion focused on the MDIs’ experiences as lenders in the Paycheck Protection Program (PPP), including their work to serve small businesses in low- and moderate-income communities.  Administrator Carranza and Deputy Secretary Muzinich thanked the MDIs for their continued efforts in ensuring that PPP funds reach all communities in need.  As of July 24, 2020, 171 MDIs had participated in the PPP, approving over 120,000 loans for more than $10 billion.