February 25, 2020
It’s been a relatively a good few years for African-American small business owners.
BY NIV ELIS - 05/18/20 06:18 PM EDT
Businesses that received emergency loans from the Small Business Administration’s Paycheck Protection Program (PPP) face a Monday deadline of whether to keep the money, and all the restrictions that come with it.
The main concern among companies is that the Treasury Department's shifting terms for forgiving the loans might leave them high and dry. Others are worried they will face blowback, from workers or the general public, for having taken the loans in the first place.
MARCH 30, 2020
Social distancing is not new to black communities. “Social distancing” in the form of anti-black segregation and discrimination was U.S. law throughout the 19th and 20th centuries. This created racial wealth disparities that have lingered, negatively impacting black people’s capacity to start and maintain businesses. The remnants of federally backed redlining practices, which financially isolated black people throughout the 20th century, throttled the amount of wealth black people could create from homeownership. Most entrepreneurs start businesses with the equity they’ve accrued in their homes. Consequently, black people, who’ve been over-burdened by American economic policies, require a different kind of stimulus in this coronavirus scourge era.