How payroll protection loans discriminate against some businesses hurt by coronavirus

The coronavirus didn’t create the racial wealth gap, but it’s doing an excellent job of making it worse.Advocates fear the economic shock waves from the novel coronavirus will be devastating for small-business owners of color and that relief will not be equitably distributed.Even before the pandemic, small businesses owned by people of color reflected deep racial inequities in access to wealth and capital. Historically, banks in the United States have been twice as likely to approve loans for white business owners than for black business owners. That’s one factor contributing to a wealth gap t...

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