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www.ctinsider.com: Challenges to survive: CT's Black business owners highlight obstacles to receiving government aid

Read Full Article Here: https://www.ctinsider.com/business/ctpost/article/Challenges-to-survive-CT-Black-businesses-15809081.php

As Congressional negotiations advanced toward a long-delayed coronavirus-relief package, Black business owners from across Connecticut told U.S. Sen. Richard Blumenthal that the legislation needs to provide wide-ranging aid for minority-owned firms.

New federal assistance cannot arrive soon enough, business owners said during the online forum Wednesday that was co-hosted by the Black Business Alliance and the Southern Connecticut Black Chamber of Commerce.

Obstacles to receiving PPP loans have highlighted the hurdles that minority-owned firms perennially face in accessing capital, a number of business owners said.

The number of Latinx business owners fell 32 percent, followed by 26 percent for Asian-American business owners and 17 percent for white-owned businesses.

“I have been so emotionally affected by all of this — not just for my business, but just knowing that 41 percent of Black businesses closed (between February and April).

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