We see signs that read "closed due to coronavirus" with the wait for a lit sign that reads "Open" but there is never any signs of returning. From our favorite barbers to that nice cozy food spot that we would casually grab dinner. Nothing seems to be the same anymore. Who are suffering more from shut downs and restrictions? Most say Black owned businesses have gotten the worst end of the stick. It's not because these owners don't want to put in the extra effort to apply for loans or ask for the help needed. Being black owned in the United States has come at a major cost for many. One time SBA government loans that were given 1k per employee to most who operate as sole proprietor, which means they are likely to be the only employee. While many other businesses owned by non-blacks racked up hundreds of thousands of dollars in SBA loans, leaving scraps for others to get. How do we make it from here and can we ever come back from such a loss?
Black Businesses Fight Covid-19
Updated: Jan 19, 2021