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PPP Pandemic Relief For Small Businesses Is Beset By Confusion And Dashed Hopes

But this year, the share of minority businesses receiving loans more than doubled from 23% in mid-January to 56% in late April, according to Womply. Through April, Womply found, about 2.5-million loan approvals went to minority businesses, mostly those with Black and Latino owners, accounting for 43% of all PPP approvals.

Everett Sands, chief executive of Brea, Calif.-based Lendistry, one of the nation's largest minority-led community development financial institutions, credits the SBA for focusing more on underserved areas. But the needs remain great, he said.

"I think the SBA could do a better job," Sands added. "There could be more transparency."

Distributed by Tribune Content Agency, LLC.

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