As businesses continue to demand the second turn With loans from the Federal Paycheck Protection Program, the Columbus Urban League works with black-owned businesses to ensure they have equal access.

Several studies, polls and press organizations highlighted disparities in access to PPP loans, which were deployed last spring as part of the federal government’s first major stimulus measures against coronaviruses.

The US Census Bureau’s Small Business Pulse Survey last spring found that only 12 percent of black and Hispanic business owners had received the help they sought from the Small Business Administration. This is compared to the national average of 38%.

Experts attribute the disparity to black business owners’ historically limited relationship with banks, meaning they found it harder to get on the front lines when pandemic help became available.

“We got calls, calls and calls, and it breaks your heart to know that these people, through no fault of their own, their businesses might just shut down and shut down because they just couldn’t. enter. the signal for these loans, ”said Stephanie Hightower, CEO of the Columbus Urban League.

While the window remains open for the second round of PPP loan applications, the Hightower organization is working to connect business owners with banks that can help them get the money they need to stay open.

“To date, we’ve already received inquiries from about 40 black-owned businesses,” Hightower said. “What’s also very encouraging is that a few financial institutions have already contacted us and said, ‘If you have people you want to update, send them to us.’”

Data released by the Small Business Administration last month shows businesses in central Ohio have been approved for 25,932 loans totaling about $ 3.24 billion. The loan applications did not ask for the race of the applicant.

As the new Biden administration is in full swing, Hightower says she hopes to focus more on helping black-owned businesses.

“My hope is that Presient Biden can continue to raise these dollars for these minority-owned businesses,” Hightower says. “People don’t realize what a lifelione having PPP loans really meant for the economy.”