OPINION: Biden’s common-sense plans will support Black entrepreneurs and small businesses as they recover and look to the future
Joe Biden plans to grow and strengthen Black-owned small businesses in Ohio and nationwide. Through his Build Back Better and Lift Every Voice plans, Biden will invest billions in the resources Black small business owners can leverage to drive their own success.
The former vice president will ensure access to credit and capital for Black businesses by doubling funding for community development financial institutions (CDFIs) and the state small business credit initiative that funds local lending. Biden will improve and expand the small business administration programs that most directly serve Black-owned small businesses, including the small business development centers, the SBA Microloan Program, and the 7(a) loan program.
As President, Biden will make permanent the Community Advantage Loan