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Black male business owner outside coffee

February 25, 2020

It’s been a relatively a good few years for African-American small business owners.

According to a subset of data in the 2020 State of Small Business report from Guidant Financial and the Lending Club, African-American small business owners are happy these days.

Working at Home

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.

Father and Son Baking

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.

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