Georgia rich with Black-owned or -operated banks and credit unions
Black-owned and operated banking
Black-owned or operated banks and credit unions are nationwide, but many are focused right here in the southeast.
ATLANTA - As FOX 5 continues to highlight Black achievement during Black History Month, we look at banking. Access to credit is fundamental to financial growth and stability.
Black-owned or -operated banks and credit unions are nationwide, but many are focused right here in the Southeast.
Bank Black promotes these financial instituions and tracks them on their website. And many are concentrated in the Southeast. You can go in closer and check out a great map on Blackout Coalition to see what we have here in metro Atlanta.
Originally published on February 11, 2021 5:19 am
When Black business owner Jennifer Kelly applied for an emergency loan for small businesses through a major bank last spring, she found herself shut out.
Kelly, who runs a clinical psychology practice outside Atlanta, was not the only one. Businesses owned by Blacks and Latinos were often at the back of the line last year as the government rushed out hundreds of billions of dollars in Paycheck Protection Program loans. The money was intended to help small businesses keep their workers on the payroll during the pandemic. It was almost as if, when I needed them, they were not available to me, Kelly said. Clearly, I m not a big business. But I m a small business. And to me, we re the fabric of America.
Black-owned businesses were often at the back of the line when the first coronavirus relief loans were doled out. Now, some are turning to banks that specialize in minority firms for help.
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