The Obama Administration does not report the racial breakdown of who’s benefiting from these loans at Recovery.gov, but data obtained by NAM from the SBA found that of the 4,497 ARC loans where the race of the borrower was reported, 4,104 (over 91 percent) went to white-owned firms, 140, (3 percent) went to Hispanic-owned businesses, and 151 (3 percent) went to Asian- or Pacific Islander-owned businesses. Only 65, (1.5 percent) went to black-owned firms.
Overall, white-owned businesses received over $130 million in loans through the program, while Hispanic-owned businesses got $4 million and black-owned businesses less than $2 million.
In five states - Alabama, Arkansas, New Hampshire, South Dakota, and Wyoming — every single firm that received an ARC loan was white-owned. In eight other states, including Louisiana and Nevada, all but one loan went to a white-owned firm.
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^ [Old friends: Beth Tacular and Justin Vernon backstage last summer.]
»———> Bowerbirds, Bon Iver, and Ticonderoga, the band that got away.
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snug. is based in Hannover. Really love their designs. (Taken with instagram)
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How I Shoot: Reflection Photos, with @dylanisbell
How I Shoot is a series where we ask Instagrammers to tell us about their photo-taking...
