{"id":1159,"date":"2020-04-30T21:08:56","date_gmt":"2020-04-30T21:08:56","guid":{"rendered":"https:\/\/rosen-testing.senate.gov\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/"},"modified":"2022-07-13T20:24:01","modified_gmt":"2022-07-13T20:24:01","slug":"rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders","status":"publish","type":"post","link":"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/","title":{"rendered":"Rosen, Cortez Masto, Colleagues Call on Federal Reserve to Extend Access to Emergency Capital to Paycheck Protection Program Community Lenders"},"content":{"rendered":"<p class=\"MsoNormal\"><b><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif;color:black\">WASHINGTON, D.C.&nbsp;\u2013&nbsp;<\/span><\/b><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif;color:black\">U.S. Senators Jacky&nbsp;Rosen&nbsp;(D-NV) and Catherine<span class=\"apple-converted-space\">&nbsp;<\/span>Cortez<span class=\"apple-converted-space\">&nbsp;<\/span>Masto&nbsp;(D-NV) joined Senator Chris Coons (D-DE) and their&nbsp;Senate colleagues in sending a letter to U.S. Federal Reserve Chairman Jerome Powell, highlighting the need to open the&nbsp;Federal Reserve\u2019s&nbsp;Paycheck Protection Program Liquidity Facility (\u201cPPP Facility\u201d) to non-bank community financial institutions, including all certified community development financial institutions&nbsp;(CDFIs). The&nbsp;Fed\u2019s&nbsp;PPP Facility provides financial backing to lenders of the U.S.<\/span><span class=\"apple-converted-space\"><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif\">&nbsp;<\/span><\/span><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif;color:black\">Small Business Administration\u2019s (SBA)&nbsp;Paycheck Protection Program (PPP), a new federal program under the CARES Act that provides forgivable loans based on employee retention to small businesses nationwide.<\/span><span style=\"font-family:&quot;Times New Roman&quot;,serif;color:black\">&nbsp;<\/span><u1_p><\/u1_p><o_p><\/o_p><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif;color:black\">\u201cWe understand the Federal Reserve is working to expand eligibility to the PPP [Liquidity] Facility, and we urge the Federal Reserve to make the PPP Facility available to nonbank community financial institution lenders, including certified Community Development Financial Institutions (CDFIs), so that underserved businesses can get access to this critical capital,\u201d&nbsp;<b>wrote&nbsp;the Senators.<\/b>&nbsp;\u201cWe request that the Federal Reserve move quickly to open the PPP Facility to nonbank community financial institutions, including all certified CDFIs, and provide immediate access to all licensed SBA 7(a) lenders that are CDFIs or subsidiaries of CDFIs to the Facility.&nbsp;These entities have a proven track record of SBA lending and of working with disadvantaged borrowers.&nbsp;Providing them with access to the PPP Facility will help ensure that our nation\u2019s most vulnerable businesses will get access to needed capital.\u201d<\/span><u1_p><\/u1_p><o_p><\/o_p><\/p>\n<p class=\"MsoNormal\"><b><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif;color:black\">Read the Senators\u2019 full letter<span class=\"apple-converted-space\">&nbsp;<\/span><\/span><\/b><b><span style=\"font-size:14.0pt;font-family:&quot;Times New Roman&quot;,serif\"><a href=\"http:\/\/www.rosen.senate.gov\/es\/sites\/default\/files\/2020-04\/2020-04-24%20Letter%20to%20Fed%20Reserve-%20PPP%20Facility_FINAL%5B1%5D.pdf\/\">aqu\u00ed<\/a>.<\/span><\/b><u1_p><\/u1_p><o_p><\/o_p><\/p>\n<p class=\"MsoNormal text-align-center\"><span style=\"font-size: 14pt; font-family: &quot;Times New Roman&quot;, serif; color: black;\">###<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>WASHINGTON, D.C.&nbsp;\u2013&nbsp;U.S. Senators Jacky&nbsp;Rosen&nbsp;(D-NV) and Catherine&nbsp;Cortez&nbsp;Masto&nbsp;(D-NV) joined Senator Chris Coons (D-DE) and their&nbsp;Senate colleagues in sending a letter to U.S. Federal Reserve Chairman Jerome Powell, highlighting the need to open the&nbsp;Federal Reserve\u2019s&nbsp;Paycheck Protection Program Liquidity Facility (\u201cPPP Facility\u201d) to non-bank community financial institutions, including all certified community development financial institutions&nbsp;(CDFIs). The&nbsp;Fed\u2019s&nbsp;PPP Facility provides financial backing [&hellip;]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[31],"class_list":["post-1159","post","type-post","status-publish","format-standard","hentry","category-press_release","tag-covid-19"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rosen, Cortez Masto, Colleagues Call on Federal Reserve to Extend Access to Emergency Capital to Paycheck Protection Program Community Lenders - Jacky Rosen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rosen, Cortez Masto, Colleagues Call on Federal Reserve to Extend Access to Emergency Capital to Paycheck Protection Program Community Lenders - Jacky Rosen\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON, D.C.&nbsp;\u2013&nbsp;U.S. Senators Jacky&nbsp;Rosen&nbsp;(D-NV) and Catherine&nbsp;Cortez&nbsp;Masto&nbsp;(D-NV) joined Senator Chris Coons (D-DE) and their&nbsp;Senate colleagues in sending a letter to U.S. Federal Reserve Chairman Jerome Powell, highlighting the need to open the&nbsp;Federal Reserve\u2019s&nbsp;Paycheck Protection Program Liquidity Facility (\u201cPPP Facility\u201d) to non-bank community financial institutions, including all certified community development financial institutions&nbsp;(CDFIs). The&nbsp;Fed\u2019s&nbsp;PPP Facility provides financial backing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\" \/>\n<meta property=\"og:site_name\" content=\"Jacky Rosen\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-30T21:08:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-13T20:24:01+00:00\" \/>\n<meta name=\"author\" content=\"Reilly Lowery\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reilly Lowery\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\"},\"author\":{\"name\":\"Reilly Lowery\",\"@id\":\"https:\/\/www.rosen.senate.gov\/#\/schema\/person\/20a03a641934935d4f3d4ef406539869\"},\"headline\":\"Rosen, Cortez Masto, Colleagues Call on Federal Reserve to Extend Access to Emergency Capital to Paycheck Protection Program Community Lenders\",\"datePublished\":\"2020-04-30T21:08:56+00:00\",\"dateModified\":\"2022-07-13T20:24:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\"},\"wordCount\":291,\"publisher\":{\"@id\":\"https:\/\/www.rosen.senate.gov\/#organization\"},\"keywords\":[\"COVID-19\"],\"articleSection\":[\"Press Releases\"],\"inLanguage\":\"es-ES\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\",\"url\":\"https:\/\/www.rosen.senate.gov\/es\/2020\/04\/30\/rosen-cortez-masto-colleagues-call-on-federal-reserve-to-extend-access-to-emergency-capital-to-paycheck-protection-program-community-lenders\/\",\"name\":\"Rosen, Cortez Masto, Colleagues Call on Federal Reserve to Extend Access to Emergency Capital to Paycheck Protection Program Community Lenders - 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