Heard on the Street: complaints to the SBA, small business as a canary in the coal mine, and problems with OZones

By June 29, 2020 Heard on the Street

Heard on the Street – here’s what we were reading last week:

Minority small business owners harder hit by pandemic closures: “A total nightmare”: Even though the COVD-19 virus doesn’t discriminate, the financial impact of the pandemic is hitting the pocketbooks of minorities the hardest – and the numbers tell us they’re struggling to stay afloat.

Federal report blasts Small Business Administration for handling of COVID-19 loans: A new Government Accountability Office report out Thursday blasts the Small Business Administration for not providing them with detailed data on who received the loans, information GAO argued was essential to providing oversight.

Small business: a canary in the US economic coal mine: If you are looking to predict the shape of the US economic recovery — be it V, W, L or even K — don’t look at the markets. Look instead at the small- and medium-sized businesses that represent 50 per cent of employment in the country. They are the best economic indicator in America right now. They are also in trouble.

The Biggest Problem With Opportunity Zones: The incentive program promised to help underserved communities. Instead, its tax breaks have disproportionately benefited wealthy investors, a new study finds.