CBS Boston
, March 10, 2021, Are Minority-Owned Businesses Getting Their Share Of COVID Relief Money?
CBS Boston compared the payroll relief data to the City of Boston’s registry of certified minority-owned businesses, as well as its list of self-identified Black- and Brown-owned businesses, and found only 24 from these lists received PPP money — out of about 2,000 total borrowers. To be sure, not all minority-owned businesses are included in these registries because businesses identify themselves on a voluntary basis.
These findings come after a study by the National Community Reinvestment Coalition showed Black female and Hispanic male testers, who posed as applicants in the Los Angeles region, received less information about PPP loan products than white, male testers. Banks gave Black applicants different “levels of encouragement” and information to apply for loans, according to the study.
