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).