With Capital, Communities of Color Can Lead Our Economic Revival
"The Paycheck Protection Program (PPP) made a significant investment in America’s small business, but the program has not adequately served the needs of minority-led organizations. According to a survey by the Global Strategy Group conducted on behalf of Color of Change and UnidosUS, just 12 percent of Black and Latino business owners who applied for PPP loans reported receiving what they asked for."
"America needs to make an unprecedented commitment to our communities of color as part of the economic restart and recovery efforts."
This piece explores several ways to provide much needed capital quickly and invest in those communities to help them survive the hardship caused by COVID-19 pandemic and thrive in the long term.
Authors: James Gutierrez, CEO, Aura, and Antony Bugg-Levine, CEO, Nonprofit Finance Fund