All Senate Eyes on ACB as Mom-and-Pops Struggle

Last week, Senate lawmakers’ attempts to extend the flawed Paycheck Protection Program without including any enhanced transparency or accountability measures failed.

Meanwhile, as Trump’s Senate allies have directed their full attention towards rushing through Trump’s extremist SCOTUS pick, Amy Coney Barrett, mom-and-pop businesses — especially those in communities of color — are struggling to tread the rough waters of the Trump recession.


CBS News | Black-owned businesses headed for disaster without federal aid, poll finds 

“The poll asked 600 entrepreneurs from all backgrounds how long they believed they could remain open in the current coronavirus-slammed economy without government aid. Only 40% of Black respondents said they could last more than six months, compared with 46% of Asian respondents, 48% of Latinx and 55% of white respondents.” 

CNBC | Black-owned restaurants in NYC struggle for survival as stimulus stalemate drags on  

@Accountable_US | “Earlier this year, we found that the ten districts with the highest % of Black residents got up to $12.9 billion LESS in loan funds than the ten districts with the lowest % of Black residents.  

Without the federal aid, many will be forced to close.” [View Tweet

New Haven Independent | Minority Biz Owners Push For More PPP 

MarketWatch | Feds’ guidance hurt minority-owned businesses’ PPP chances, report says 

Business Insider | 5 charts show just how badly Latino and Black communities have been impacted by the economic fallout from the coronavirus 

Houston Chronicle | Black-owned businesses face additional challenges during pandemic: panel | Small Business Administration loans decrease 84% to Black-owned businesses since Great Recession 

Washington Business Journal | How the financial system has failed Black business – Washington Business Journal  

Common Dreams | New Poll: Nearly Half of Black-Owned Small Businesses Closed Permanently Or Will Soon Shutter Due to Insufficient Federal COVID Relief


Roll Call | PPP plan falls short in Senate as hope for COVID-19 aid wanes 

Accountable.US | Senate COVID Response an Insult to Americans Who Need Help 

PBS NewsHour | Without more federal aid, U.S. economy could take years to recover from pandemic | Small business to Washington: Focus on us, not the Supreme Court | Opinion

“The juxtaposition of these two processes — swift action to fill a Supreme Court seat vs. months of prolonged inaction while Main Street businesses continue to close their doors — is shocking. And small business owners have taken notice. In a recent survey of more than 1,500 small business owners, Small Business for America’s Future (SBAF) found that two-thirds believe it’s more important for the future of our country for Congress to prioritize another economic relief package over Supreme Court hearings.”

Kansas City Business Journal | Small businesses struggle to survive as Congress deadlocks on stimulus, second PPP 

Triad Business Journal | Small business, big mission: “An emotional wreck. Very sad. Let down.”


Reuters | U.S. banks sweat regulatory exposure from pandemic loans 

“The sense of anxiety is high,” said Vivian Merker, a management consultant to financial services firms at Oliver Wyman in New York. “They are gearing up for years of requests from regulators and there’s still reputational risk from PPP fraud even if they did all the right things to follow program rules.” 

News 12 Westchester | Sources: Feds investigating PPP kickback scheme involving up to 100 Mount Vernon city employees 

Fox Business | Virginia man used coronavirus crisis loans to purchase small plane, luxury car: Federal prosecutors

The Texan | North Texas Man Allegedly Stole $24 Million in PPP Funds, Sent Cash to India, Paid off Mortgages

Milwaukee Journal Sentinel | Wisconsin men charged with scamming $1 million out of COVID-19 relief program meant for small businesses