Treasury department to award $8.7Billion for lending towards miniority communities

[bourgeoisie tall freak]

No it doesn't. This is just giving funding for ALL small businesses. Here is the only line that matters in the article.

"The U.S. Treasury Department announced Tuesday the release of $8.7 billion to help increase lending to small and minority-owned businesses and people living in poorer communities with limited access to banking."

This pretty much covers everyone with a small business. White people, black, jews, gays, hispanic. This language is purposely inclusive and anyone can qualify. That's why "small business" is purposely separated from "minority owned business". They are two separate things and If a white person owns a small business they qualify per the language above. "People living in p

And because the money goes directly to banks and credit unions this will not stop them from continuing their discriminatory practices in giving black companies loans. Only 2 percent of black businesses actually received ppp loans and racial discrimination from banks was proven.
Racial Bias Skewed Small-Business Relief Lending, Study Says

i see you accidentally (purposelly lol) left your analysis off of the second part of the "only LINE that matters in the article".

 

[Consigliere]

*Sigh*

No one will get any of this money by sitting around and waiting to see what happens. Or by complaining.

Google your local CDFIs and talk to them about what it takes to get financing. Look for a CDFI that specifically targets the Black Community.

 

[east]

i was curious what their definition of "minority" is for this so i looked it up, i was surprised to find that most cacs, cacettes as a whole, etc. aren't eligible

“Minority” means any Black American, Native American, Hispanic American, Asian American, Native Alaskan, Native Hawaiian, or Pacific Islander. “Minority Business” or “Minority-Owned Business” means a business that is 51% or more owned by a “minority” individual as defined in section 522 of the Act. “Minority Community” means a census tract where the majority of the population consists of minority individuals as defined by section 522 of the Act.

https://home.treasury.gov/system/files/136/ECIP-Application-Materials.pdf

 

[bourgeoisie tall freak]

i was curious what their definition of "minority" is for this so i looked it up, i was surprised to find that most cacs, cacettes as a whole, etc. aren't eligible

https://home.treasury.gov/system/files/136/ECIP-Application-Materials.pdf

way to do the due diligence
thread goes quiet af

why do they say "ignorance is bliss" when it's usually people that don't know wtf they are talking about in their feelings so easy. sums up american politics as a whole tbh

 

[Buddy]

Some of you are willing a self fulfilled prophecy.

 

[☑︎#VoteDemocrat]

i was curious what their definition of "minority" is for this so i looked it up, i was surprised to find that most cacs, cacettes as a whole, etc. aren't eligible

https://home.treasury.gov/system/files/136/ECIP-Application-Materials.pdf

Of course. People don’t read tho.

 

[☑︎#VoteDemocrat]

I’m a cold ass nikka.

Thanks for the reminder.

fukk this gotta do with the thread though?

You think a business loan is empowerment?

Oh really. Do you think reparations (pipe dream in this country) is empowement?

 

[Huda2daf]

Oh we getting the bag this time.

 

[Black Magisterialness]

If people think this is designed for our community or that our community are going to get the lions share of this money they are deluding themselves.

Its America, NOTHING is "designed for us". That doesn't mean we can't take advantage. If bulk of the money is taken up by black applicants, then what difference does it make what "minority" means for the Fed?

Your rhetoric is defeatist for the masses, but you'll go and do it for yourself. Why not actually drop gems and help some of these brothers & sisters on here get some of this money too?
Oh right, you just want to sound "down" and then talk out the other side of your neck and flex.


And yes, I too will be getting some of this money.

 

[Buddy]

Its America, NOTHING is "designed for us". That doesn't mean we can't take advantage. If bulk of the money is taken up by black applicants, then what difference does it make what "minority" means for the Fed?

Your rhetoric is defeatist for the masses, but you'll go and do it for yourself. Why not actually drop gems and help some of these brothers & sisters on here get some of this money too?
Oh right, you just want to sound "down" and then talk out the other side of your neck and flex.


And yes, I too will be getting some of this money.

Yeah... That's the only way some of the responses can make sense to me. I'm a really confused as to how an opportunity for money is being turned on it's head. It reminds of that J. Cole lyric though

Cause either you play the game or watch the game play you
And be that broke motherfukker talkin bout "I stay true"

 

[Ya' Cousin Cleon]

Question breh, how exactly would you go about applying for this kind of money? Have you done it before?

@Consigliere you mentioned something about CDFi's?

Its America, NOTHING is "designed for us". That doesn't mean we can't take advantage. If bulk of the money is taken up by black applicants, then what difference does it make what "minority" means for the Fed?

Your rhetoric is defeatist for the masses, but you'll go and do it for yourself. Why not actually drop gems and help some of these brothers & sisters on here get some of this money too?
Oh right, you just want to sound "down" and then talk out the other side of your neck and flex.


And yes, I too will be getting some of this money.

 

[Sonic Boom of the South]

White women literally receive the majority of minority business benefits from the government

And the majority of "women" businesses in America are white male owned but listed under their white wives to receive those benefits

 

[RARI_Godwind]

Interested to see how this money ends up in the hands of white people this time.

For the record. Even if every dime went to Black People, this is not reparations. Not in the slightest.

 

[Consigliere]

Question breh, how exactly would you go about applying for this kind of money? Have you done it before?

@Consigliere you mentioned something about CDFi's?

CDFI = Community Development Financial Institution

I have never applied for funding through one, but I’m looking into it NOW since they have funding they need to spend.

I’d imagine it’s similar to applying for a grant or the PPP loans from last year… the requirements are probably a little stricter in terms of proving you have a real business. On the flip side, grant style programs can be easy to tap into because it’s all about your story, vision, and paperwork… as opposed to a bank where they want to see your cash on hand over 3 months.

Just google CDFI’s in your area and call them for details on borrowing.

 

[Nigerianwonder]

i was curious what their definition of "minority" is for this so i looked it up, i was surprised to find that most cacs, cacettes as a whole, etc. aren't eligible

https://home.treasury.gov/system/files/136/ECIP-Application-Materials.pdf

way to do the due diligence
thread goes quiet af

why do they say "ignorance is bliss" when it's usually people that don't know wtf they are talking about in their feelings so easy. sums up american politics as a whole tbh

Now look up the definition of "Small business" and "People living in poorer communities" cause both of those groups are also included along with with "minoritiy owned businesses. Its not exclusive to minority businesses.