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An Uphill Battle For Charlotte s Black And Latino Businesses

The pandemic has been disastrous for the economy as a whole, but the worst effects have been felt disproportionately by Black and Latino communities. As the pandemic drags on, we sit down with Charlotte’s Black and Latino business leaders and analysts to understand what is behind these racial disparities and what solutions might lead us towards a more equitable economy.

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Charlotte s Latin American Chamber will launch an e-commerce site for small businesses

Bank of America is awarding Charlotte’s Latin American Chamber of Commerce with a $200,000 grant to launch an online e-commerce platform for local Latino-owned businesses.

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Charlotte s Latin American Chamber will launch an e-commerce site for small businesses

Charlotte s Latin American Chamber will launch an e-commerce site for small businesses
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Second Round Of PPP Brings More Success For Some Minority-Owned Businesses

WFAE Joe Momma s Pizza & Grill is one of the 60 Latino-owned businesses that secured a PPP loan through Prospera, a nonprofit organization that supports Latino entrepreneurs. When the Paycheck Protection Program rolled out in 2020, much of the money went to big businesses with previously established banking relationships. So in February, the Biden administration announced updates to the second round of PPP loans. There were changes in eligibility and a two-week priority period for businesses with 20 or fewer employees. Lending institutions were also given a new formula to calculate loan amounts. “We wanted to be sure that those who couldn t take advantage of PPP loans had a decent shot at doing so this year,” said Mike Arriola, acting district director of the North Carolina SBA office.

North carolinaUnited statesMike arriolaMartha uriosteguiJose alvarezLatin american chamberCharlotte mecklenburg black chamberCharlotte latin american chamberPaycheck protection programMaria ramirez uribeவடக்கு கரோலினாஒன்றுபட்டது மாநிலங்களில்மைக் அரியோலாஜோசே அல்வாரெஸ்லத்தீன் அமெரிக்கன் அறைசார்லோட் மெக்லென்பர்க் கருப்பு அறை

Changes In PPP Eligibility Give Minority Business Owners Who Were Skipped Over A New Shot At Loans

WFAE Changes in eligibility come after failures during the first round of the Paycheck Protection Program, failures that caused many minority-owned businesses to miss out on receiving a loan. Está historia está disponible en español en La Noticia. Businesses across the country were forced to close their doors last March as statewide lockdowns went into effect. So the announcement of financial support for business owners through the Paycheck Protection Program was a relief. But instead of getting help, many minority-owned small businesses were denied PPP loans. “A lot of people really just got turned down for loans,” said Shanté Williams, director of the Charlotte Mecklenburg Black Chamber of Commerce. “Even though they could show that they were hurting. They could show what they used to make prior to 2020, and it just wasn t enough.

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