Miami Herald, March 24, 2022, PPP loans were made to be forgiven. In heavily Black areas like South Florida, many aren’t
Researchers at the National Community Reinvestment Coalition, which advocates for better financial and housing access for minorities and underserved groups, sent white and Black borrowers with similar financial profiles to banks to inquire about short-term loans for their small businesses, including PPP loans, in April and May of 2020. White prospective borrowers were more often encouraged to apply for a loan and consider the bank’s other financial offerings. Women were offered less information about the PPP program than men.
“It was blatant discrimination,” said Anneliese Lederer, director of fair lending and consumer protection at the NCRC.
