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In Cleveland, This Entrepreneur Sums Up Many Black Business Owners' Experiences During the Pandemic

In Cleveland, This Entrepreneur Sums Up Many Black Business Owners’ Experiences During the Pandemic
Jun 16, 2021
As the pandemic raged during the early months of 2020, Black business ownership across the U.S. plunged more than 40 percent, the largest drop across any U.S. demographic group, according to the U.S. House Committee on Small Business. Among the many impacts that disproportionately affected small businesses, Black business owners were less likely equipped with the tools needed to cope with mandated closures, largely due to the lack of access to such financial relief as emergency loans that otherwise could have given them a financial lifeline. ....

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Clock ticking for small businesses to act on PPP loans

Exclusive window set to close on March 10th
Author: Andrew Horansky
Updated: 11:14 PM EST March 3, 2021
CLEVELAND Lisa McGuthry of Our Favorite Things Boutique and Event Center in Cleveland did not waste any time in applying for a loan through the federal paycheck protection program when they first came out.
“This money is essential for any small business,” she said. “Small business owners are the heartbeat of the community.”
Amy Bradford of Amy’s Shoes and Apparel in Woodmere applied too.
“I think that as a small business owner who is a very small business, it’s just nice to know they’re trying,” Bradford said. ....

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