Senators to announce coalition reaches $1 billion goal for minority, community lending

Sens. Mark Warner and Mike Crapo, seen here making their way to the House chamber for President Trump's first State of the Union Address in 2018, are announcing an effort to expand access to capital for small businesses emerging from the pandemic. (Pete Marovich/Getty Images)

The leaders of a bipartisan Senate caucus on Thursday will announce a coalition of businesses and foundations has reached its goal to raise $1 billion for minority and community lenders.

Sens. Mark Warner, D-Va., and Mike Crapo, R-Idaho, co-chairs of the Community Development Finance Caucus, will join Treasury Deputy Secretary Wally Adeyemo at the Capitol Thursday to announce news of the benchmark.