Black And Minority-Owned Businesses Are Denied Virus Relief Funds
Many Black and Latino business owners say they are on the verge of losing their businesses because they are currently out of work due to the coronavirus pandemic. However, that may not be the only reason because according to a new survey, these two minority groups have also been side-lined and are barely benefiting from the Paycheck Protection Program and other government aid efforts.
The Paycheck Protection Program (PPP) is a part of the Coronavirus Aid, Relief and Economic Security (CARES) Act that is intended to provide some form of financial aid to small business owners who are finding it hard to function amid the coronavirus pandemic.
Nonetheless, Black and Latino small business owners are on the losing end of the scale, according to the survey conducted by the Global Strategy Group for two equal-rights organizations, Color of Change and UnidosUS. From April 30 to last Monday, a total of 500 business owners and 1,200 workers were interviewed, according to the New York Times.