Columbus Urban League helping Black-owned businesses with new round of PPP loans

COLUMBUS (WCMH) – Functions at the moment are open for the second spherical of Paycheck Safety Program loans.

The Columbus City League is working to ensure this time, Black companies aren’t neglected of the method.

The primary spherical of loans final yr confronted criticism for a number of the huge names and chains that certified whereas some small companies didn’t get a dime.

The brand new spherical has guidelines centered on companies with lower than 300 workers and banks are working to ensure Black companies are of their queue.

Columbus City League President Stephanie Hightower stated Black companies have traditionally confronted elevated scrutiny from the banking trade.

She hopes working with them on the PPP loans is only one strategy to bridge that divide.

“What we’re doing is working with the monetary establishments to start to determine how will we create that stage enjoying area,” Hightower stated. “How will we get individuals who appear like us come to us and have these essential conversations wanted to assist drill down, to assist individuals really feel comfy with going to these monetary establishments.”

Hightower stated the City League’s work doesn’t cease with the loans. The group can also be helping these companies in making multi-year plans to allow them to be round for many years to come back.

— to www.nbc4i.com

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