One of the more understated casualties from the sudden economic and social distancing effects of the coronavirus has been Black-owned businesses.
By C. T. Wright
(NEW YORK – March 30, 2020) – An untold number of small businesses have been disproportionately hurt by the coronavirus crisis as the nation’s top elected officials struggle to agree on how to provide financial relief for companies and taxpayers alike as the country inches closer to a new recession. While citizens were waiting to learn how much money the government would give them, one of the more understated casualties from the sudden economic and social effects of the coronavirus has been Black-owned businesses.
Senate Democrats on Sunday rejected Republicans’ stimulus package that included “a $350 billion forgivable loan package for small businesses that would be designed to keep employees paid even as business ground to a halt,” CNN reported. That meant that Black-owned businesses would continue to feel the brunt of the economic impact from the COVID-19 respiratory disease that has killed more than 2,606 people nationwide and infected more than 145,000. READ IN FULL