Government Announces $10 Billion Initiative to Boost Small Businesses. How Will Black-Owned Business Fare?
Black businesses, which already have major challenges in getting funding, have been hard hit by the pandemic. They also failed to receive pandemic government funding on the same level as white businesses. Yet Black-owned companies received just 1.9 percent of Paycheck Protection Program loans during the pandemic while white-owned businesses received 83 percent, reported Business Of Business. Acknowledging that…