Few Hispanic business owners got coronavirus relief loans, Latino survey finds

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A survey of more than 500 Latino small-business owners who applied for coronavirus relief loans found that only 97 of them received money, while the rest have never heard back on their applications. - NBCLatino

The majority of the Latino business owners who applied for the loans did so through their existing bank or lender, the survey found. Major banks where Latinos applied included Bank of America, JPMorgan Chase, Wells Fargo, Frost Bank and PNC.

Wells Fargo said in a statement is"working as quickly as possible" to prepare applications from small business customers for the latest round of funding Congress provided. The bank said it has mobilized thousands of employees and launched new technology to get their applications processed. It was followed by PNC Bank, which approved 14 percent or 1 of 7 applications; JPMorgan Chase, 12 percent or 5 of 42; and Bank of America, 11 percent or 5 of 44 applications.

 

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RepLindaSanchez NBCLatino Rep. Sanchez Congress continued to reward the same big banks that foreclosed on latino home owners in 2008 to be in charge of this loan program with no oversight, because banks donate to their campaigns. Why would you expect anything different?

HispanicCaucus NBCLatino They promote biased inflammatory false accusations. NBC ABC CBS CNN are all globalist puppets. HispanicCaucus stop trying to break America.

NBCLatino Over half of them employ illegals, so give them ZERO!

NBCLatino HYON

mugrogue NBCLatino America, we need you to vote blue! Remove America’s red stain! End the crime spree! Enough!

NBCLatino It's against regulations for a bank to not respond to a loan application. They must acknowledge that they received it, they must give it a determination. It has been over 30 days and the federal government has yet to respond to our relief loan application.

NBCLatino Same here.

NBCLatino It wasn't just Latinos, it was a lot of small business owners. These loans are being approved by humans at the banks. Maybe they should be under scrutiny.

NBCLatino 'JUST 97%' BWAAAAHAHAHahahaha Compared to: 1)💯% who DIDN'T keep their doctor 2) 99.9% who DIDN'T get a new, high-paying, 'green' energy job 3)💯% whose family DIDN'T save $2500/yr with Obonercare 4)💯% who SAW us drill our way out of high oil prices

NBCLatino Racism Trump style?

NBCLatino One thing I've learned doing bookkeeping for businesses over the years is that few owners knows what their financial statements look like. They know of they are short-term profitable, but couldn't tell you how much or where the weaknesses were. Couldn't give you the ratios.

NBCLatino how about a survey of all small businesses rather than your curveball pitch, alot of businesses (disregard color for once) got screwed and left behind while businesses such as the lakers to name one billion dollar corp were sent money

NBCLatino

NBCLatino They can go back 2 Mexico.

NBCLatino Braskem USA employees who stayed at work 28 days straight to make material used for PPEs deserve our deepest appreciation. You are our heroes 🙏

NBCLatino Yes because they were specifically discriminated against

NBCLatino Our son is white and has a small business AND HAS RECEIVED $0 - so minorities have an advantage - sounds like racism to me

NBCLatino Because they only gave it to white businesses

NBCLatino While lazy non essential city workers still get OT to sleep

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