June 3, 2021
Felix Kabo spoke with WDET about the Restaurant Revitalization Fund
Researchers found the Paycheck Protection Program (PPP) did not benefit Black business owners as much as white. Felix Kabo said, “There was this correlation between having an existing relationship between the borrower and the financial institution and receiving PPP and other government funds. Financial institutions are more likely to favor lending to the business owners they already have relationships with.” The Restaurant Revitalization Fund is designed to address this issue.
Read the original research by Felix Kabo, Stewart Thornhill and Elizabeth Isele, by Felix Kabo: Race and Government Aid.