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Rejection rate seems like it would be more useful than just percentage of overall acceptance.
For context : Blacks own about 2.6 million businesses or 9.5 percent of all U.S. businesses The 19 million white-owned businesses have 88 percent of the overall sales, and control 86.5 percent of U.S. employment, while black businesses have a mere 1.3 percent of total American sales, and 1.7 percent of the nation’s employees. ___ The article doesn't clarify if by percent they mean number of loan applications approved…
The sample size (14%) was large enough statistically. Might also be interesting to see if this trend was larger when white owners did not identify themselves.
If you're going to put together an inflammatory article the least you could do is dive a little deeper and answer the 'Why' question. Why did black-owned businesses receive less than 2% of PPP Loans?
I wrote the article - I don't think it is inflamatory. It is irrelevant if 0% of business owners are Black. The US Treasury (which controls the IRS, money printing and funds the government) should not abuse its power to favor a certain segment of the population. The government should not bail out private companies.
When the government straight up bans most companies from doing business, with little warning, and for a prolonged and unpredictable amount of time, I think some level of nuance should be applied.
That site is a mobile ad nightmare. Also should the thread title mention that only 14% of PPP application respondents provided info on race?
A majority of modern studies about race rely on sampling.
According to the US Census Bureau, 9.4% of businesses were black-owned, as of 2012. According to the same report, 78% of businesses were white-owned in 2012. https://www.census.gov/newsroom/press-releases/2015/cb15-209...
As I noted in my other comment, in the linked paper, only 14% of business chose to self-identify race, so it's not clear how biased this data set is.
According to the US Census Bureau, 9.4% of businesses were black-owned, as of 2012. According to the same report, 78% of businesses were white-owned in 2012. https://www.census.gov/newsroom/press-releases/2015/cb15-209...
According to the US Census Bureau, 9.4% of businesses were black-owned, as of 2012. According to the same report, 78% of businesses were white-owned in 2012. https://www.census.gov/newsroom/press-releases/2015/cb15-209...
And 78% of businesses were white-owned as of 2012. (same source)
What percentage of loans were applied for by black-owned businesses? Comparing it to population seems like a statistic that is intentionally misleading, I would guess that a lot more businesses are owned by white people than by black people (which is its own issue). I believe only around 10% of businesses are even owned by a black person, so it doesn't surprise me to see that they have a smaller piece of the PPP loan…
To be clear: > The full list of Paycheck Protection Program recipients released by the Small Business Administration on Monday shows that of the 14 percent of businesses that chose to identify race in their loan application, Black-owned businesses received 1.9 percent of loans while White-owned businesses received 83 percent. So the actual percentage of black-owned businesses receiving PPP loans is somewhere from 0.2…