Hispanic Chamber of Commerce Partners with Customers Bank to Improve PPP Loan Completions in Underserved Communities

Hispanic Chamber of Commerce Partners with Customers Bank to Improve PPP Loan Completions in Underserved Communities

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The Pittsburgh Metropolitan Area Hispanic Chamber of Commerce (PMAHCC) is partnering with Customers Bank to offer a streamlined platform for the Paycheck Protection Program. The platform assists business owners completing the application to ensure completeness as well as providing English and Spanish one-on-one customer service during the process.

“It is crucial that all businesses, especially in our underserved communities, have access to the tools needed to accurately complete a PPP application. This process will break down barriers for all businesses, especially the minority small business who are the least likely to receive funding in this last round of loans,” said Melanie Marie Boyer, PMAHCC Director.

This program is one of a handful of hybrid financial technology models that support the SBA’s initial round of Paycheck Protection Program loans. The loan is designed to provide quick economic relief to small businesses across the country.

Providing one-on-one assistance in both English and Spanish, the organization helps to limit discrepancies in the applications process for Hispanic entrepreneurs. In partnering with Customers Bank, The Pittsburgh Hispanic Development Corporation, Latino Community Center, Casa San Jose, and other partners, their goal is to ensure that all those who need PPP assistance have an equal opportunity to apply and qualify for this round of funds.

By working with select partners, over 100,000 SBA-approved loans were processed by Customers Bank – the fifth highest of all lenders in the nation – and in 2020 provided an aggregate value of over $5 billion to small businesses without discrimination in the loan amount, business size, race, ethnicity, or any other biases.

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Pittsburgh’s Hispanic community is the population segment experiencing the largest growth in the region. Our online magazine was created to connect, celebrate, and empower Pittsburgh Latinos. Our bilingual format is inclusive of 2nd to 4th generation Hispanics looking to connect with their roots and contribute to our growing community. Pittsburgh Latino Magazine is published by Presente Pittsburgh Media.

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