Vice President Harris on Monday announced $1.7 billion in grants for more than 600 community lenders to support small businesses, entrepreneurs, nonprofits, housing and commercial real estate as they seek to rebound from the coronavirus pandemic. Harris announced the grants as part of the Treasury Department's Community Development Financial Institutions Fund, saying that the loans will go to support local lending institutions that primarily serve minority communities, which may be hesitant to seek out a loan from a bigger bank. She said that the lenders will not need to pay back "not even a dollar of this investment," and noting that the awards are grants, not loans. "These banks pr
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