In 2019, only 3% of the $23.2 billion in loans from the SBA went to Black businesses
There has been an 84% national decline in lending money to Black-owned businesses since 2007 under the Small Business Administration’s small business lending program.
In Sacramento, white businesses have received more money for their businesses than all Black businesses nationally from the SBA program, Census data showed.
According to the Sacramento Business Journal, a majority-Black census shows that Black businesses nationally received $157.58 per capita in business loans compared to majority-white businesses which received $304.59 per capita locally in Sacramento alone.
Business owners in white neighborhoods like Galt, Antelope, and North Highlands received $254.67 per capita, whereas people-of-color neighborhoods like parts of Elk Grove, Meadowview and North Sacramento, some of the largest majority person-of-color neighborhoods, received $153.72 per capita.