Delish: Only 130 Black-Owned Restaurants Received PPP Loans Over $150,000, According To A Report

Delish, July 29, 2020: Only 130 Black-Owned Restaurants Received PPP Loans Over $150,000, According To A Report

Of the nearly 49,000 restaurant companies that received larger Payment Protection Plan (PPP) loans from the government (of $150,000 or more), only 130 of those identified as Black-owned businesses, according to a report by Restaurant Business Online.

The report offers a bit of background for that number, including the fact that four out of five these PPP loan recipients did not identify their race, making the data available limited, though they note that the fact that this data is not more complete is also an issue that needs to be addressed.

However, the report also notes that the data that is available shows that it’s still much harder for Black business owners to get the loans they need, including the fact that of the businesses that answered the question on race, only 1.3 percent were Black-owned. In other striking data found by The Detroit Free Press, of the 785 Michigan restaurants that received PPP loans of $150,000 or more, only one identified as Black-owned.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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