Black small business owners have been devastated by the pandemic more than any other racial group.
But thanks to the Biden administration, they are set to receive a significant economic boost.
Headlining the Freedman’s Bank Forum last week, Vice President Kamala Harris and U.S. Treasury Secretary Janet Yellen announced $8.7 billion in federal funding for community lenders that serve minority and small businesses in underresourced communities.
The funds from the Emergency Capital Investment Program, which was created to address the disparate toll of the pandemic, will be spread across 186 community financial institutions in 36 states.
All this and more on “Prime.”
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