Black American owned businesses only received 1% of federal contracts under Joe “I got your back” Biden.
- Thread starter Amerikan Melanin
- Start date
My question is how many black owned businesses applied for these loans and were denied and why they were denied. The article doesn't break that down.
Sir Richard Spirit
Superstar
The article actually links the report that is broken down like y’all asking.
The report lays out why the percentage is so low. Basically the government mainly deals with established businesses that are already use to handling federal contracts. The amount of money a business has to spend just to get the contract is to high. You might spend $40,000 to get a $100,000 contract. Then the way the bundle the contracts. Then what we all know, the agencies being racist.
The report even says the numbers are funny. If a black woman gets a contract it counts as a woman and a African American. So in some cases the numbers are doubled.
Kyle C. Barker
Migos VERZUZ Mahalia Jackson
Look at the numbers in the graph after 2020.
Well ain't that something lol. It's 2.5 times larger than 2020.
Direct federal contracts are actually only part of the story. Large contractors like Northrop Grumman and Lockheed are also required to subcontract to minority owned businesses per agreement with the federal government.
At least for now, I'm sure we'll be seeing that challenged in the supreme court too.
ORDER_66
The Fire Rises 2023
Elim Garak
Veteran
Look at the numbers in the graph after 2020.
This doesn't seem to fit the coli Maga narrative. Oh but don't worry because the deflection and dismissal of this chart is coming.SupaDupaCool
Superstar
Another bothsides TLRepiblican thread flops quick. Trumpset nikkas is desperate and not even reading the shyt they post.
Better qualified black business applications still get denied at a higher rate than poorly qualified non black applicants
And minority owned businesses are usually NOT black owned businesses.
Kyle C. Barker
Migos VERZUZ Mahalia Jackson
Ok... But I know quite a bit that are and I've worked for said subcontractors. I worked for one for 10 years.
You don’t know how many OTHER people are getting awarded those funds. When you understand the block grant funds, their amounts and where those awards are going, then you’ll have an answer. Otherwise, you can know 100 subcontractors. That’s not even half the equation to know the answer. Just anecdotal observations.
Receipts?
https://www.bankrate.com/loans/smal...t-loan-approval-for-minority-business-owners/
If you actually gave a fukk to wouldn’t need to ask for “receipts “ about some shyt like that.