COVID-19 Updates, News, White House Report

Black Business Owners Being Shut Out of Federal Stimulus Funds

April Ryan
April 27, 2020

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In this March 24, 2020, photo, Keisha Henry, right, and her business partner Erica Norwood pose for a portrait inside their lounge and catering business in New Orleans. Henry said she lost about $10,000 in revenue last week after three big functions she was slated to cater ended up canceling. Meanwhile, she still has expenses related to launching a bar and lounge six months ago. Henry said she regrettably had to lay off several employees. (AP Photo/Gerald Herbert)

The economic viability of Black America is at stake if there is not equitable disbursement of the small business administration monies into the Black community. Advocates sent a letter to Treasury Secretary Steve Mnuchin demanding an equitable share of federal funding for minority-owned small businesses. April Ryan speaks with Nikitra Bailey, EVP of Center for Responsible Lending who has a message for business owners. Small Black-owned businesses employ nearly nine million Americans and pump $1.38 trillion into the US economy.

Advocate and Industry Organizations to Treasury Secretary @stevenmnuchin1: “use your authority to ensure that the structural issues with the #PPP, do not continue to exclude businesses of color.” Full letter -> https://t.co/gyBcwefmoi
— Center for Responsible Lending (@CRLONLINE) April 27, 2020

Click ▶️ to listen to AURN Washington Bureau Chief April Ryan’s White House Report:

April Ryan has a unique vantage point as the only Black female reporter covering urban issues from the White House, a position she has held with AURN since the Clinton era. Her position as a White House Correspondent has afforded her heightened insight into the racial sensitivities, issues, and attendant political struggles of our nation. April has written three books; The Presidency in Black & White: My Close-Up View of Three Presidents and Race in America, At Mama's Knee: Mothers and Race in Black and White, and Under Fire: Reporting from the Front Lines of the Trump White House. Twitter: @aprildryan