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Banking on Inequity
Archived series ("Inactive feed" status)
When? This feed was archived on November 28, 2022 08:57 (). Last successful fetch was on September 16, 2022 18:11 ()
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 291251654 series 2526921
Congress spent hundreds of billions of dollars to rescue small businesses hurt by the pandemic. But Paycheck Protection Program (PPP) money disproportionately went to White neighborhoods, leaving communities of color behind.
Small businesses are the heart of Los Angeles’ many neighborhoods. Reporter Laura C. Morel talks with business owners around Los Angeles who either received PPP money or faced insurmountable hurdles to get one of the forgivable loans. Morel talks with a Latinx barber in the Florence neighborhood, where just 10% of businesses got PPP loans. In a predominantly Black area of Inglewood, we meet clothing store owner Annie Graham, who couldn’t get a PPP loan last year, even from a lender who hooked up with Magic Johnson to specifically help minority- and women-owned businesses access the government lending program. In Graham’s neighborhood, 32% of businesses got PPP loans. Meanwhile, in the majority-White neighborhood of Playa del Rey, 61% of businesses got PPP loans. The disparity among neighboring communities is striking.
We end with an interview with reporter Gabriel Thompson about fast food franchises that received PPP money. One McDonald’s owner in Chicago got half a million dollars, but workers there filed multiple complaints with OSHA because they felt they were not protected from COVID-19.
This show is guest hosted by Sarah Gonzalez of Planet Money.
Don’t miss out on the next big story. Get the Weekly Reveal newsletter today.
207 episodes
Archived series ("Inactive feed" status)
When? This feed was archived on November 28, 2022 08:57 (). Last successful fetch was on September 16, 2022 18:11 ()
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 291251654 series 2526921
Congress spent hundreds of billions of dollars to rescue small businesses hurt by the pandemic. But Paycheck Protection Program (PPP) money disproportionately went to White neighborhoods, leaving communities of color behind.
Small businesses are the heart of Los Angeles’ many neighborhoods. Reporter Laura C. Morel talks with business owners around Los Angeles who either received PPP money or faced insurmountable hurdles to get one of the forgivable loans. Morel talks with a Latinx barber in the Florence neighborhood, where just 10% of businesses got PPP loans. In a predominantly Black area of Inglewood, we meet clothing store owner Annie Graham, who couldn’t get a PPP loan last year, even from a lender who hooked up with Magic Johnson to specifically help minority- and women-owned businesses access the government lending program. In Graham’s neighborhood, 32% of businesses got PPP loans. Meanwhile, in the majority-White neighborhood of Playa del Rey, 61% of businesses got PPP loans. The disparity among neighboring communities is striking.
We end with an interview with reporter Gabriel Thompson about fast food franchises that received PPP money. One McDonald’s owner in Chicago got half a million dollars, but workers there filed multiple complaints with OSHA because they felt they were not protected from COVID-19.
This show is guest hosted by Sarah Gonzalez of Planet Money.
Don’t miss out on the next big story. Get the Weekly Reveal newsletter today.
207 episodes
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