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What Minority-Owned Small Businesses Can Expect From A Biden-Harris Administration

Many Black- and Latino-owned small businesses feel left behind after a tough 2020. The incoming Biden-Harris Administration signals a new narrative.

A cornerstone policy for the incoming Biden-Harris administration is its proposed $1.9 trillion COVID-19 relief plan. The policy outlines a clear intention to deploy capital to Black- and Latino-owned small businesses; a segment in the small business economy that has been disproportionately impacted by the COVID-19 global pandemic.

Research conducted by the Federal Reserve Bank of New York and Stanford shows that minority-owned small businesses were disproportionately impacted by COVID-19 and were less likely to receive access to the Payment Protection Program (PPP) and other government relief loan programs.

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