Black Business Owners Must Now Prove 'Social Disadvantage' To Get SBA Loans

[rph2005]

SBA loan requirements for black business owners
Black business owners now have to prove they are "socially disadvantaged" to qualify for certain loans from the U.S. Small Business Administration (SBA).

According to Business Insider, all participants of the SBA 8a Business Development program are required to write a "social disadvantage narrative" in order to continue to be eligible to receive monetary awards.

The requirement comes after the Supreme Court's decision to end affirmative action. In July 2023, a federal judge in Tennessee ruled that business owners aren't allowed to use race as a reason for facing disadvantages in the U.S.

“The determination of which groups of Americans are presumptively disadvantaged compared with others necessarily leads to such a determination being underinclusive because certain groups that could qualify will be left out of the presumption," the judge ruled in July.

the SBA must determine that the discrimination or bias experienced by an individual is chronic, substantial, and has occurred within American society (not another country). Additionally, the discrimination must have negatively impacted the individual’s entry or advancement in the business world.”

In the "social disadvantage narrative," business owners must include “a who, what, where, why, when, and how the discrimination occurred.”

SBA Administrator Isabella Guzman said the Biden administration is doing everything it can to support small businesses in response to the ruling.

“The BA and Biden-Harris Administration remain committed to supporting this crucial program and the small business owners who have helped drive America’s strong economic growth,” Guzman said.

 

[TENT]

Hmmm.

 

[Big Tex]

Republicans did this, but somehow ADOS and BGOL MAGA will blame Biden.

 

[34real]

In the "social disadvantage narrative," business owners must include “a who, what, where, why, when, and how the discrimination occurred.”

Just another way of denying blacks loans because proving who,what,where,why and when isn't that hard cause it's been going on since most black people have been on this earth but are they willing to accept the proof?nooo.

 

[gene cisco]

So wait. This program ALREADY includes multiple races, genders, ethnicities, and military service backgrounds? So how many black business owners were getting these loans before? Because we all know for years other groups have come in and taken most the resources under the 'minority' flag(like white women and AA). That was the big grift. Label shit that was supposed to be for black people as minority so other groups could jump the line. Other groups even scoop up money meant for businesses in black neighborhoods.

 

[Blkops]

There is an open and sustained effort by Republicans and their race soldiers to deprive black people of any right or benefit of this country. Still some of us want to play dont vote and both sides games. Here is a tangible we just lost. More to come if the reich wing gets their way.

 

[cashwhisperer]

Fuck it, I'll go the long way.

 

[KunningLinguist]

I wonder if white women have to prove they are disadvantaged?

Notice it specifically named race and not sex. That allows white women to slip in there

 

[KunningLinguist]

Another thing....how can one live in a country where people that look like you are 10% of the population and NOT be disadvantaged?

Unless you do the country like whites did in South Africa that is....

 

[Dr. Truth]

So basically show skin