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Catherine Hughes has been the chair of the Small Business Administration’s Advisory Council on Underserved Communities since January 2011. Their goal is to help expand opportunities for minority-owned and other underserved small businesses and to streamline the loan process. Marie Johns is the Deputy Administrator of the SBA. Hughes was also chairperson and founder of Radio One, the largest black-owned radio chain in the country.
Small Loan Advantage and Community Advantage Platforms
“The question we have is how do you best help companies who need technical assistance and support?” said Johns. “We created the Small Loan Advantage and Community Advantage platforms. With Small Loan Advantage we work with 60 lending partners, including large banks, and large financial institutions using half the paperwork in half the time. We’re counting on that to help large banks know they have to get back to creating smaller loans.