Treasury Secretary Janet Yellen speaks after touring the IRS New Carrolton Federal Building, Thursday, Sept. 15, 2022, in Lanham, Md. – On the same day the Federal Reserve gave a sobering report on the U.S. economy's trajectory, administration officials highlighted how they have kept some of the nation's smallest businesses afloat through the pandemic.
“There is almost $9 billion on the ground right now" for community banks and lenders, Vice President Kamala Harris said on a call with reporters. On the call with reporters, Harris and Treasury Secretary Janet Yellen highlighted some of the program recipients, including Native American Bank, which recently got a $10 million loan to finance an opioid addiction treatment facility in North Dakota, and a Georgia bank that recently gave a $650,000 working capital loan to an Atlanta-based, Black-owned affordable housing developer.
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