Many Black businesses have not received COVID-19 relief, and may have to
close their doors as a result.
[ [link removed] ][IMG]
Call Congress and tell them to implement relief measures that protect
Black-owned businesses.
[ [link removed] ]CALL NOW
John,
Nearly half of all Black-owned businesses will be gone in six months. Yes
you read that correctly; many Black-owned businesses will be forced to
close their doors due to the COVID-19 pandemic.^1 The House of
Representatives is currently working on adjustments to the Paycheck
Protection Program (PPP) that will provide additional financial relief for
small business owners. These kinds of changes could save small businesses
by distributing additional loan funds, providing loan forgiveness, giving
additional time for business owners to spend relief funds, and removing
restrictions that have been preventing small businesses from being
eligible for loan forgiveness.^2 But we must ensure that these adjustments
include specific provisions and protections for Black and Latinx-owned
businesses.
[ [link removed] ]Call your representative and demand that updates to the PPP include
measures to protect Black-owned businesses.
The PPP as it’s written isn’t working. Black and Latinx small business
owners’ needs were essentially ignored. Despite the majority of Black and
Latinx business owners asking for less than $20,000 in assistance, only
about 12% received the assistance they requested--even though Politico
reports that “more than $100 billion remains available for loan
approvals.”^3 4 This kind of discrimination is why Congress must include
measures that specifically address the needs of Black and Latinx-owned
businesses.
[ [link removed] ]Tell Congress to implement relief measures for Black-owned businesses.
The current proposed changes to the PPP still may not be enough to keep
Black-owned businesses operating. Although revising the PPP is a step in
the right direction, we need legislation that provides funds and benefits
for a greater number of small business owners without strings attached.
Legislation like the Paycheck Recovery Act, for example, provides an
opportunity for small businesses who apply to receive an initial
three-month lump sum grant payment. This would allow many more Black and
Latinx small business owners to make up some of the revenue they’ve lost
due to the pandemic and cover business operating costs like paying
employees’ salaries.^5
Without specific measures like the ones the Paycheck Recovery Act
provides, we will lose not just our businesses, but all of the support and
compassion they bring to our communities. The stakes are too high in this
unprecedented time to leave our voices unheard. [ [link removed] ]Call your
representative NOW and demand Congress include specific relief measures
for Black-owned businesses in their updates to the PPP.
Until justice is real,
— Rashad and the rest of the Color Of Change team
References:
1. “Few Minority-Owned Businesses Got Relief Loans They Asked For,” The
New York Times, May 18, 2020,
[ [link removed] ][link removed]
2. “Pelosi moving to revamp small business rescue program,” Politico, May
19, 2020,
[ [link removed] ][link removed]
3. “Federal Stimulus Survey Findings,” The Black Response, May 13, 2020,
[ [link removed] ][link removed]
4. “Pelosi moving to revamp small business rescue program,” Politico, May
19, 2020,
[ [link removed] ][link removed]
5. “H.R. 6918 - The Paycheck Recovery Act: Stopping Mass Unemployment
While Supporting Businesses and Their Workers,” Jayapal.House.Gov, May
19, 2020,
[ [link removed] ][link removed]
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[ [link removed] ]Color Of Change is building a movement to elevate the voices of Black
folks and our allies, and win real social and political change. [ [link removed] ]Help
keep our movement strong.
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