Banking and Business Ties Key to Federal Aid Process For Minority-Owned Businesses


Published by the

January 29, 2021

Looking to address the disproportionate number of minority-owned businesses who received the first round of funds from the Paycheck Protection Program, the Small Business Administration has put in place a number of guidelines and opportunities for minority-owned, woman-owned and veteran-owned businesses to take advantage of this round.

Joseph Williams, a capital access team lead and business advisor at the Connecticut Small Business Development Center, said that about half the people he worked with were able to take advantage of the PPP loans.

Many who were not able to take advantage of the program simply did not have the connections with banks, chambers of commerce, and business associations to understand the opportunity.

Read the full story, via CTExaminer here.