While Democrats, Republicans and Donald Trump let their petty differences impede the release of COVID19 stimulus funds to help struggling small businesses, private companies are coming to the rescue.
In a bid to boost minority business ownership, JPMorgan Chase said it will provide $2 billion to fund an additional 15,000 loans to small businesses in Black and Latin communities.
This is part of a greater commitment of $30 billion over five years to help close the racial wealth gap through a mix of housing investments and philanthropy, in addition to business loans.
Bank of America said it’s giving $1 billion to address economic and racial inequality in the United States. The initiative will address minority healthcare, housing, jobs & training, as well as support for small businesses.
Google announced a $175 million+ economic opportunity package to support Black business owners, startup founders, job seekers, and developers.
If you own a minority business, you owe it to your employees and your customers to seek out these funding opportunities.