4.2 C
New York
Friday, November 22, 2024

Buy Now

Black business owner Amma Johnson Designing her way through Pandemic

Reading Time: < 1 minute

The pandemic hit us hard especially black-owned businesses. While businesses were closing their doors last year, many were fighting to keep theirs open. According to the Center for Responsible Lending, black-owned businesses found it difficult to get help from the federal Paycheck Protection Program, which was designed to throw a lifeline to small businesses. The program required business owners to apply for aid through banks or credit unions, but during the five years preceding the pandemic, only 31 percent of Black-owned businesses obtained loans from banks or credit unions. Without existing banking relationships, many struck out when they sought help. 

**********

Thank you for reading Sherri Johnson’s article on scoopnewsusa.com. For more on “Black business owner Amma Johnson Designing her way through Pandemic”, please subscribe to SCOOP USA Media. Print subscriptions are $75 and online subscriptions (Print, Digital, and VIZION) are $90. (52 weeks / 1 year).

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

1,193FansLike
154FollowersFollow
0SubscribersSubscribe

Latest Articles