Tony Cardenas believes there’s an important provision Congress must consider regarding PPP (Paycheck Protection Program) Loans.
The state of California has received the largest amount of dollars of PPP at $33 billion, approved for over 112,000 loans, according to the U.S. Small Business Administration. But based the intel he has received, small minority owned and women owned businesses aren’t getting the funds they deserve.
Tony Cardenas introduced a bill that would require the Small Business Administration to track the PPP funds and the demographics in order to ensure the money is divided without prejudice or discrepancies. This bill is included in the HEROES Act which sits in the Senate after passing the House.
Tony spoke to Spectrum News 1 and you can hear the entire interview here.