Readout of Senior Administration Economic Officials’ Meeting with Small Business Leaders and Advocates
Notable that Paycheck Protection Program (PPP) Loans were discussed, and with the objective of getting more dollars to communities of color. Only two percent of all PPP Loans went to black business owners.
Today, Acting Small Business Administrator Tami Perriello, Director of the National Economic Council Brian Deese, Deputy Director of the National Economic Council Bharat Ramamurti, and other senior Biden-Harris Administration officials from the SBA and Department of Treasury held a virtual meeting with more than 100 representatives from small business advocates, minority and women small business leaders, lenders, and other economic organizations.
The senior administration officials underscored President Biden and Vice President Harris’s commitment to providing small businesses with the support they need throughout the economic downturn caused by the pandemic, especially ensuring minority- and women- owned businesses have fair and equitable access to small business relief programs. They discussed how the Biden-Harris Administration will focus on identifying Navigators to ensure small businesses in communities of color and underserved communities can better access the Paycheck Protection Program (PPP) and other emergency assistance programs.
Acting Administrator Perriello also asked community navigators to share successes about how the community navigator approach has helped undeserved businesses. The American Business Immigration Coalition and the Resurrection Project shared their perspectives on implementing a community navigator model in Illinois, and the City of Columbus provided insights on its community navigator efforts.
The senior administration officials thanked participants for joining and said they look forward to continued dialogue about the best ways to support small businesses throughout the ongoing economic crisis.