Feds' guidance hurt minority-owned businesses' PPP chances, report says

Oct 19, 2020
Washington advised banks to favor existing customers, leaving out many Black- and women-owned businesses, according to a House subcommittee.
Larger companies initially took advantage of the Paycheck Protection Program, which was intended to offer forgivable loans to smaller businesses.
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If more PPP money is coming, how can the Senate make sure minority-owned businesses benefit?

Clarity around how to apply for a PPP loan and the terms of repayment would be useful for all companies trying to get a loan.
Fabiana Estrada of Accion says a lot of the minority business owners she's worked with are confused about how the PPP loans work.
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Minority-owned businesses struggle to access emergency loans

Apr 28, 2020
Many of their lenders were excluded from the Paycheck Protection Program.
There's criticism that smaller and minority-owned businesses didn't get their fair share from the first round of the Paycheck Protection Program funding.
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