Why are so many black-owned small businesses shut out of PPP loans?

Why are so many black-owned small businesses shut out of PPP loans?

The vast majority of black-owned small businesses do not qualify for the government’s emergency Paycheck Protection Program loan, despite a fresh round of CARES Act funding that includes $60 billion in set-asides for minority and other underserved borrowers. Per its name, PPP was designed by Congress to shore up payroll for companies who saw business […]