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Two Calif Women Are Now Leading Efforts to Support State s 3 9 Million Small Businesses — The Sacramento Observer
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Majority Latino Areas Got Less PPP Money Than White Areas
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Majority white areas of California received more money from the federal Paycheck Protection Program for small businesses than majority Latino areas did, according to a study by UCLA researchers.
The disproportionate amount of PPP money going to wealthier, whiter areas may make economic and racial disparities worse across the state, the study said.
The disparities arose primarily because the loans, which are awarded to businesses affected by the COVID-19 pandemic, were distributed on a first-come, first-served basis by big banks, said Rodrigo Dominguez-Villegas, director of research for the UCLA Latino Policy and Politics Initiative, which released the study on Wednesday along with the UCLA Center for Neighborhood Knowledge.
California governor plans $4 billion for economic recovery
Jan. 06, 2021 at 5:00 am
Adam Beam, Associated Press
California Gov. Gavin Newsom on Tuesday proposed a $4 billion spending plan he says will create jobs and help small businesses recover from the economic downturn brought on by the coronavirus pandemic.
Close to half of that money $1.5 billion would help people purchase electric cars and build the charging stations necessary for drivers to use them. That proposal is part of Newsom’s goal to ban the sale of new gas-powered cars in California by 2035.
Small businesses would get $575 million. The money would pay for grants of up to $25,000 each to small business owners, with priority given to areas and industries most affected by the pandemic. That money includes $25 million for small museums and art galleries that have been forced to close during the pandemic.
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