CBS Boston: Minority-owned businesses were last in line to receive loans, latest PPP data show
Originally published January 4, 2021 | CBS Boston
Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many minority owners struggled more than White owners did to find banks that would accept their applications or were disadvantaged by the terms of the program, according to an Associated Press analysis of the low-interest government loans.
Data from the Paycheck Protection Program released December 1 and analyzed by the Associated Press show that many minority owners desperate for a relief loan didn’t receive one until the PPP’s last few weeks while many more white business owners were able to get loans earlier in the program .