Tag: Small Business Administration (SBA)

Some minority-owned small businesses applied for the Economic Injury Disaster Loan (EIDL) by the initial March 31, 2020, deadline and again thereafter. The EIDL program was intended to provide working capital to small businesses – apparently not exclusively – with funding of up to $2 million, including an immediate $10,000 advance within a few days after applications were submitted to the Small Business Administration (SBA).

We finally have legislation that benefits the taxpayers of Oakland. Desley Brooks took a giant step to bring economic parity to the community of the poor. What she has done will slow down the Oakland process of importing labor and exporting capital. Pack the Oakland City Council meeting Tuesday, Feb. 7, regarding local hire and a Jobs Center.

Loans handed out to struggling small businesses as part of President Barack Obama’s stimulus package have largely shut out minority businesses – especially those owned by Blacks and Latinos. Overall, white-owned businesses received over $130 million in loans through the program, while Hispanic-owned businesses got $4 million and Black-owned businesses less than $2 million.