Posted 01/04/2021 in Category 1

PPP Forgivable Loans come From Our Tax Monies

PPP Forgivable Loans come From Our Tax Monies

If 90% of Black woman owned businesses are operated by one person and that person is the sole employee of the business then where do Blacks stand with a PPP loan that is about to hit the banks from the Small Business Administration (SBA).  American descendent of enslaved Africans are too often the last group to receive restorative justice in education, housing, food, health care and finances after all our ancestors were promised the 30 acres and a mule.  

American decedents of African Enslavement in America made it possible for all other African Americans, Latinos and immigrants to be in America.  We fought, we marched and we died. We were stomped down, hung, separated and jailed for the rights and privileges many take for granted without knowing, caring or considering the history of our struggles from our enslavement to today and the story continues.

After our emancipation we created our own jobs, bought and development our own land, started our own banks, invested in our own new way of life until the government, the banks, Christianity and corporate institutions decided we were still not valued as human beings.  I am not saying that all Black businesses are not worthy of everything they deserve.  I am saying American's decents of the enslaved African should have preferential treatment in regards to special grants, resources, partnerships and special loans.  

Black businesses do not want a step-by-step business program to reach the financial position White business are already.  We want the elevator ride to the top where we can stand side by side with white businesses. After all, Jim Crow, redlining, mass incarceration, separation of our families through lack of employment, banking and health care discrepancies are a part of the racist acts against us as people and as businesses.   

If the PPP monies distribution has 5 class action law suites for paying Black’s last then we must complain.  If banks get 10 billion in bank fees for the little paper work they do to process the PPP then they refuse to give that money back to enrich the community that is a problem in my eyes.  PPP monies are your tax money and it comes from IRS taxations.   

All Black owned businesses should reach out and apply for the PPP at your bank and all grants you qualify.  Just do not forget our ancestors!   

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Marie Firmin, President. BlackBiz Development Group LLC