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The addition will take the bank’s total commitments to $775 million.
The Paycheck Protection Program was launched in April as the United States government rushed to get cash to millions of desperate borrowers.
Goldman, which is not an approved small business loan provider in the United States, will not issue these loans directly, but rather provide the financing to community development financial institutions and other mission-driven lenders that then loan it out to the clients.
The bank is also partnering with the National Urban League and the U.S. Hispanic Chamber of Commerce, it said https://www.goldmansachs.com/media-relations/press-releases/current/gs-increases-small-business-commitment.html.
