WASHINGTON – Earlier today, Deputy Secretary of the Treasury Wally Adeyemo joined Mayor of Los Angeles Eric Garcetti for lunch at BCD Tofu House in Los Angeles’ Koreatown, a small business that benefitted from the PPP loan program. Deputy Secretary Adeyemo and Mayor Garcetti met with the restaurant’s owner, Eddie Lee, who with his late mother Hee Sook Lee, worked hard to support their staff and customers throughout the pandemic.
The two PPP loans that BCD received totaling over $1 million were used in part to keep BCD’s employees on the payroll and the lights on as Ms. Lee continued to feed the Koreatown community. BCD Tofu is an example of how the PPP loan program has empowered small businesses to sustain jobs, support the economic recovery and keep communities together through the COVID-19 crisis. The event is part of a series of engagements Deputy Secretary Adeyemo has participated in this week to hear from communities about the benefits of the American Rescue Plan.