Detroit Free Press, July 16, 2020: 785 Michigan restaurants got $150K or more in federal loans. Only 1 listed as Black-owned.
Of the 785 Michigan restaurants approved for more than $150,000 each in Paycheck Protection Plan (PPP) loans, only one self-identified as Black-owned, according to a Free Press analysis of government data.
In early June, the U.S. Small Business Administration released loan-level data for the 4.9 million PPP loans it has overseen since the beginning of the COVID-19 pandemic. Businesses that received more than $150,000, which account for nearly 75% of the stimulus program’s approved loan dollars, are identified with names and addresses, while those under that threshold do not include such identifying information.
Both datasets include voluntary demographic fields.
