WASHINGTON (AP) — President Joe Biden is aiming to use a visit to the battleground state of Wisconsin on Wednesday to spotlight a surge in federal government support for Black-owned small businesses during his White House tenure and to highlight his administration’s efforts to ramp up investment in distressed communities.
The Small Business Administration in the last fiscal year backed 4,700 loans valued at $1.5 billion to Black-owned businesses. Under Biden, the SBA says it has more than doubled the number and total dollar amount of loans to Black-owned small businesses.