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Millions of Black-, Latinx-, and women-owned businesses will fail unless this happens

24 Jul 2020

As D.C. lawmakers wrangle over a 4th round of stimulus, a small business advocate argues for structural changes to better serve struggling companies owned by POC and women.

Lawmakers in Washington resumed negotiations over a fourth round of economic stimulus this week and for many pandemic-stricken small businesses, the clock is ticking. Loudly. Millions will fail if the government does not take bold action and fix structural flaws in how aid is distributed.

Black-, Latinx- and women-owned businesses have been hit the hardest, shut out for varying reasons from the Paycheck Protection Program (PPP). So, when the loan program, designed to help small businesses keep workers on payroll, was recently extended to Aug. 8, it was still not reaching those who needed it most. And with the recent spike in COVID-19 cases around the country, President Trump is now acknowledging the worst is yet to come.

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This content was originally published by Fast Company. Original publishers retain all rights. It appears here for a limited time before automated archiving. By Fast Company

Covid-19 – Johns Hopkins University

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