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Rep. Gallego Votes Urges the Maricopa County Industrial Development Authority to Support Underserved Minority-Owned Businesses

Statement

Date: April 24, 2020
Location: Washington, DC
Issues: Finance and Banking

Today, Rep. Ruben Gallego (D-AZ) released the following statement after the Maricopa County Industrial Development Authority failed to provide financial support to Chicanos Por La Causa (CPLC). CPLC is a community development financial institution (CDFI) that provides affordable capital to underserved, minority-owned small businesses throughout Arizona.

"Chicanos Por La Causa is a trusted partner in promoting economic development as a community development financial institution and providing neighborhood businesses with capital that they could get nowhere else," said Rep. Gallego. "Their work has alleviated poverty and raised wages in my district and underserved populations throughout Arizona."

"That is why I am disappointed that the Maricopa County Industrial Development Authority (IDA) recently decided not to fund the CPLC's important mission. I urge IDA to reconsider so that CPLC can provide small, minority-owned businesses with the affordable capital they need to survive during this national economic crisis."


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