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New study finds minority business owners are struggling to get federal aid

A new survey shows that minority-owned businesses are struggling to get the federal aid they need to keep their businesses open.

HOUSTON — A new survey shows minority-owned businesses are struggling to get the federal aid they need.

The study was done by UNIDOS US, and it surveyed black and Latino small-business owners. They found only 38 percent received some aid at least 41 percent have been denied any federal help.

May 18, 2020 WASHINGTON, D.C. - Amidst mounting death tolls in their communities, Black and Hispanic small-business owners, and the employees and customers they sustain, face a startling prospect: without swift and adequate governmental assistance in the next six months, almost half say their businesses, under current circumstances, may not have enough funds to survive the largest economic downturn since the Great Depression.

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Lamesha Davis is one of those Houston business owners.

“It made me really scared. As a startup, I’ve invested so much money into my company. I really need this relief as a lot of my employers are depending on me,” Davis said.

Davis owns two businesses: a spa on the northwest side of Houston, and a company called Healthcare Travels, like an Airbnb for nurses and doctors.

Davis applied for the Economic Injury Disaster Loan but was denied for one of her businesses and is awaiting a response for the second.

“It made me feel as if I wasn’t worthy of receiving this money. My credit is in tip top shape,” said Davis.

But just like her there are many in the same situation.

“Many did not have the luxury for attorneys accountants. Bankers and others to help them through this process,” said  Dr. Laura Murillo President of the Hispanic Chamber of Commerce.

The Hispanic Chamber of Commerce in Houston also thinks the government needed to make small business owners priority.

“There were large corporations who took advantage of the system. When you have large corporations who took advantage of the system, there should have been more oversight this go around,” Murillo said.

In the meantime, Davis said she is remaining optimistic and is appealing her denial.

“A lot of us don’t have parents or people to go to boot strap and to get funds to sustain our businesses. We would be forced to closed our doors,” Davis said.

Davis has applied for numerous grants offered through various agencies. She hopes she can get some kind of help soon.

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