African American Businesses Received the Fewest COVID-19 Relief loans, and Grants, as Program Deadline Looms (Niles, IL) – Today, the Illinois Coalition of African American Business Organizations announces that research reports issued by the Center for Public Integrity, and the Brookings Institution reveal that African American businesses were awarded less than 2% of the loans, and grants available through the $1.9 trillion federal COVID-19 relief program for small businesses, administered by the U.S. Small Business Administration, that is scheduled to end on May 31, 2021.
Small Business Administration officials, the COALITION asserts, continues to reinforce decades-long systemic barriers, that prevent African American business owners from
securing SBA loans, and grants, that will afford them the opportunity to develop, grow, expand and succeed.
Furthermore, the COALITION contends, SBA officials have failed to implement the Biden administration’s mandates designed to mitigate these inequities, and injustices.
To call attention, and seek solutions to this crisis, the COALITION is joining forces with other African American business organizations, throughout the country, to sponsor and participate in a series of protest demonstrations, at SBA regional, and district headquarters. The organization will also appeal to members of the Congressional Black Caucus to sponsor investigatory hearings.
About the Illinois Coalition of African American Business Organizations:
The Coalition is an advocacy, and clearinghouse organization whose mission is to strengthen the voice of African American business owners, in Illinois, and provide information that will help them vote more strategically, and hold elected officials accountable. The Coalition uses the internet, especially email, as its main conduit, in communicating with members, and the public.