The White House announced new housing and small business programs designed to help narrow the wealth gap between Black and white Americans, as President Joe Biden marked the 100-year anniversary of the racist “Black Wall Street” massacre in Tulsa, OK. The administration plans to launch what it said was a first-of-its-kind, inter-agency effort to address inequity in home appraisals and issue new rules to combat housing discrimination, according to a White House fact sheet. In addition, the administration said it planned to boost federal contracting with “small disadvantaged businesses” by 50 percent, awarding $100 billion over five years.
America’s small business community is recovering from the pandemic, but large swathes of it haven’t yet recovered. That was the message from U.S. Small Business Administrator Isabel Guzman, testifying in front of a House Financial Services subcommittee.
Axios Re:Cap spoke with Guzman on their last episode in the six-part America’s Business Comeback series, about which small businesses still need help and what the SBA plans to do about it.
Vice President Harris is advocating for a renewed focus on government help for minority and women-owned small businesses following the coronavirus pandemic. In her entry for Forbes, the vice president told the story of Lorena Cantarovici, who owns an artisan empanada business in Colorado. Cantarovici was initially told by lenders she was “not bankable,” but was able to open several locations and grow her business. “Today, our nation must reimagine our economy, so that every American entrepreneur can launch and grow an enterprise,” Harris wrote. “It is in this reimagining that we will remain competitive — and come out of this pandemic stronger than before.”
Source: The Hill