Now, new data show that African American and Latinx businesses are not only in danger of losing their businesses but have been disproportionately denied relief loans established for the pandemic.
According to a recent nationwide survey, 45% of black and Latinx small business owners say they anticipate closing within six months due to the coronavirus outbreak.
The Paycheck Protection Program as well as other federal relief services have largely ignored minority communities, leaving them the most vulnerable to suffering severe economic loss due to the public health crisis.
The New York Times reported that Rashad Robinson, the president of Color of Change, said the new survey data show that “if we don’t get policies to protect these communities, we will lose a generation of black and brown businesses, which will have deep impacts on our entire country’s economy.”
“This groundbreaking poll shows that African American and Latino small businesses—the economic engines of many cities, small towns, and communities across America—are suffering greatly but are being left out of relief efforts,” Janet Murguía, CEO and president of UnidosUS, said in a statement.
