COLUMBUS (WCMH) – Applications are now open for the second round of Paycheck Protection Program loans. Just go to green day online site
The Columbus Urban League is working to ensure that this time around, black businesses are not left out of the process.
The first round of loans last year was criticized by some of the big names and chains that qualified while some small businesses didn’t get a dime.
The new round has rules focused on companies with less than 300 employees, and banks are working to make sure black companies are in their queue.
Columbus Urban League president Stephanie Hightower said black businesses have historically faced increased scrutiny of the banking industry.
She hopes that working with them on PPP loans is just one way to bridge this gap.
“What we’re doing is working with financial institutions to start figuring out how to create a level playing field,” Hightower said. “How do we get people who are like us to come to our house and have those crucial conversations that are needed to help deepen, to help people feel comfortable with these financial institutions.”
Hightower said the Urban League’s work doesn’t end with loans. The organization also helps these businesses develop multi-year plans so that they can exist for decades.