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Latino USA

Latino-Owned And Without A Lifeline, Small Businesses Struggle To Survive

Latino USA

My Cultura, Futuro and iHeartPodcasts

Politics, Society & Culture, News, Documentary

4.83.8K Ratings

🗓️ 8 May 2020

⏱️ 26 minutes

🧾️ Download transcript

Summary

Latino-Owned And Without A Lifeline, Small Businesses Struggle To Survive

Transcript

Click on a timestamp to play from that location

0:00.0

We've taken quite a hit. Obviously we're still trying to maintain busy and bring in business.

0:14.4

So yeah, we've taken a hit.

0:20.9

From Futuro Miria, it's Latino USA. I'm Maria Inohosa.

0:30.0

One thing is certain, the COVID-19 shutdown here in the epicenter of it all in New York City

0:40.3

continues to save lives and it has kept hospitals here from being overwhelmed with new patients.

0:48.8

But here in New York City and all across the country, the corner shops and family run

0:54.8

businesses and bodegas that are at the center of many communities are facing an existential threat.

1:02.5

Many Latino business owners are struggling to pay their rent, meet their payrolls and stay

1:08.3

afloat. And some are wondering if this might be the end of the road.

1:15.4

To alleviate this, by the end of March, Congress had come up with a massive relief bill

1:20.9

that set aside $349 billion to help small businesses and to protect the paychecks of their employees.

1:30.4

The funds were meant to be distributed in the form of low interest business loans,

1:35.3

but in less than two weeks, all of that money was gone and thousands of applications were left up in the air.

1:42.4

The role of this program was played by accusations of unfairness in a process that shut out many

1:51.6

Latino small businesses. And these are folks that will fight to make what they want and fight to make

1:58.2

their businesses successful. Texas Public Radio Entrepreneurship Reporter Paul Flav has been

2:03.1

covering this story across Texas, which is one of the highest rates of Latino owned businesses

2:08.5

in the country. Paul's reporting has highlighted the stories of people in the Latino business community

2:14.2

who have been trying to access those relief funds and have mostly come up short in a very crucial

2:19.3

moment for their businesses. And in full transparency, Futuro Media runs Latino USA and we are a small

2:26.7

Latino and woman of color run business that is also a non-profit. We did apply for a payment

2:32.9

protection loan, which is a central part of the conversation Paul and I will have today.

...

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