Though Black Americans spend $1.3 trillion dollars annually while banking with large financial institutions and doing business with large corporations, we have nothing to show for it. Black homeownership is lower than all other racial groups, Black-owned small businesses on average only generate approximately $17K per year vs. white-owned small businesses which generate approximately $165K per year. We only have 19 Black-owned banks in America vs. 5,200 white-owned banks with close to $20 trillion in assets. 

 

All of this is due to a lack of access to capital. To help black small businesses, Senators Kelly Loeffler and David Perdue support plans to provide direct help to Black Americans, in addition to specific aid to black small businesses affected by COVID. 

 

While our Senators have been fighting to get this relief to Georgians, their opponents have not supported these efforts because it would not include tax cuts for billionaires in high tax states.