Logman: Look deeper to understand the reasons for the differences between the parties stands on the bell The Dems wanted more help for the hospitals, state and local governments.
“Democrats, however, are interested in adding a few other items to the bill. One of their stipulations is some conditions on the small-business money. Pelosi and Schumer would like to see half of the new funds, or $125 billion, allocated to community-based financial institutions to increase access for this money to businesses that have been less likely to seek out funds from the large banks.
“As the Wall Street Journal reported, minority-owned businesses and rural businesses are among those that are less likely to have relationships with larger banks. Additionally, one of the biggest issues to emerge with the PPP is that institutions like Bank of America, TD Bank, and Chase require businesses to have an existing relationship with the bank in order to even apply to the program. That limitation is shutting out many small businesses and is an issue that Democrats are trying to address by putting requirements on how these funds are distributed.