$30 Billion of 2nd Round of PPP Allocated to Community Lenders

LOS ANGELES, April 29, 2020 /PRNewswire/ — OneUnited Bank, the largest Black owned bank in the country, is proud to announce the launch of its Small Business Administration Paycheck Protection Program (PPP). OneUnited Bank, a Preferred SBA 7(a) lender, is offering PPP loans to its existing and new customers on a nationwide basis through its state-of-the-art online and mobile banking platform.  OneUnited has unique access to $30 billion of stimulus funding that was allocated to Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) as part of the second round of PPP.

OneUnited Bank logo. (PRNewsFoto/OneUnited Bank)

The Paycheck Protection Program is part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that provides forgivable small business loans to support payroll