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, which provided a Paycheck Protection Program loan to the business.
Loans provided through the Small Business Administration's Paycheck Protection Program did not penetrate low- and moderate-income communities quite the same as higher-income areas, according to new research this week from the Federal Reserve Bank of Cleveland.
Equal participation in the job-protecting stimulus program among LMI areas and minorities — who tend to be more prevalent in LMI communities — has long been a concern of lending advocates, as Crain's explored in this piece last summer.