Round two of the government’s $310 billion Payment Protection Program has been issued, $60 billion of which was earmarked for credit unions and community banks in an effort to help underserved communities. However, according to a recent report by the Center For Responsible Lending, up to 90 percent of businesses owned by people of color may have or will likely be shut out by the program.
Grameen America, an organization that provides essential capital and services for low-income women, is stepping in to help minority women business owners like Maria Lugo, who is working to keep her tire shop open after she and her husband were diagnosed with Covid-19.
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Minority Women Business Owners Struggle For Equal Access To PPP Loans | Forbes