In this episode, Tracee E. Davis and Tonya M. Esposito, partners in Seyfarth's ESG and Consumer Finance Litigation groups, are joined by Walter Davis who is a founding member of Peachtree Providence Partners Holding Company, LLC, a private investment and consulting firm which focuses on small to middle market businesses.
Over the last few months, the COVID-19 crisis has disproportionately affected small and minority-owned businesses across the country, many of which found the Payment Protection Program inaccessible. In response, Congress has appropriated $9 billion dollars in funding through the Emergency Capital Investment Program (ECIP) for distribution through a national network of community development and minority-owned financial institutions known as CDFIs and MDIs. With this record-breaking amount of financing potentially available to small and minority owned businesses through CDFIs and MDIs, we discuss the ECIP and advancing equal access to capital in a two-part series. In this first episode, we discuss the role of CDFIs and MDIs in the financial markets.
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