Greylock First Local Lender to Process PPP Loans
The Berkshire Eagle reports the application period for the second round of Paycheck Protection Program funding opened Monday, but as of now only one Berkshire financial institution is eligible to assist those in need.
Greylock Federal Credit Union was able to begin receiving first draw PPP applications Monday, and second draw applications Wednesday because it is the Berkshire’s only certified Community Development Financial Institution, according to the U.S. Small Business Administration.
Greylock’s online application portal opened Monday afternoon, according to Jodi Rathbun-Briggs, the credit union’s senior vice president. Priority is being given to businesses owned by minorities, women, veterans and other underserved members of the community, as well as existing Greylock business members
The certification is a designation given by the CDFI Fund to specialized organizations that provide financial services in low-income communities and to people who lack access to financing.
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