Politico, July 15, 2020: Black applicants faced discrimination in securing PPP loans, study finds
White applicants for Paycheck Protection Program loans were treated better than Black applicants, according to a study by an activist group that fights discrimination.
The National Community Reinvestment Coalition sent Black and white testers with similar profiles to talk to banks about securing PPP loans to help their small businesses stay afloat during the coronavirus crisis. They found “different levels of encouragement to apply for loans, different products offered and different information provided by bank representatives.”
