The US Federal government's Paycheck Protection Program, or PPP, doled out hundreds of billions of dollars to businesses.
The PPP's goal was to assist businesses during the nearly inevitable slowdowns due to the coronavirus pandemic.
But according to Business Insider, many minority-owned businesses were left waiting for funds until the final weeks of the program.
Many of our businesses were being turned down in the first and second round of funding. That caused application fatigue and frustration. Ron Busby President, US Black Chambers
The Center For Responsible Lending says minority-owned businesses support 8.7 million jobs with an annual total payroll of $280 billion.
