Talking to Black business owners in Pittsburgh in the wake of the COVID-19 quarantine, you hear a lot of the same things: They’ve applied for loans and have heard nothing back.
Kelly Hunt, district director of Western Pennsylvania’s Small Business Administration [SBA] office, said business owners who’ve previously applied to the PPP should expect lenders to reach out to them in the next week or so about funds from the second stimulus package.
Hunt also wants small business owners to know that if they receive an EIDL, the $1,000 advance payment per employee does not have to be repaid.
The first round has led to multiple lawsuits against banks, including PNC Bank, alleging that the financial institutions favored big companies over small business in processing PPP loans.
Many Black business owners in Atlanta, St. Louis and Chicago are reporting being locked out from stimulus relief loans.
