Posted on 12/20/2023 8:49:48 AM PST by Diana in Wisconsin
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.
Since 2020, the share of the SBA’s loans going to minority-owned businesses has increased from 23% to over 32%.
Joelle Gamble, deputy director of the White House National Economic Council, said the president's visit to the Wisconsin Black Chamber of Commerce will give Biden a chance to show “how Bidenomics is driving a Black small business boom."
Wisconsin was among the most competitive states in Biden's 2020 election win over former President Donald Trump and will likely be key to his reelection hopes in 2024. Trump is the leading contender vying for the GOP 2024 presidential nomination.
In Wisconsin and beyond, Biden is trying to pep up American voters at a time when polls show people are largely dour about his handling of the economy. The president is struggling with poor approval ratings on the economy even as the unemployment rate hovers near historic lows and as inflation has plummeted in little over a year from 9.1% to 3.2%.
The White House said Biden also planned to highlight his administration's push to replace the nation's lead water service lines within 10 years, to ensure communities across the country, including Milwaukee, have safe drinking water.
(Excerpt) Read more at channel3000.com ...
Black-owned small businesses = Drug dealers
Brandon’s, ‘How much will it cost me to buy your vote?’ Tour, 2023.
Yes, he’s just pandering, like all lefties do.
Unfortunately.
LOL.......where’s he getting the vote-buying money.......snx.
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.
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Buy EV
Replace your Gas stove
Replace your gas furnace
“...ramp up investment in distressed communities.”
Read: ‘Throw more money we don’t have down the rat-holes of FAILING Socialist Democrat Run Cities!’
Hangin that ole carrot out there again I see.
“Under Biden, the SBA says it has more than doubled the number and total dollar amount of loans to Black-owned small businesses.”
Updated December 2023 business line of credit:
At what interest rate? Lib governments always have a cost to their actions. Current rates of interest high end vary with the type of loan. For bank SBL’s - 11.91%, for online term - 99%. SBA - 15%, business line of credit - 99%, equipment financing - 45%, merchant cash advance - 350%.
And uncle sugar gets a piece of all of it. And seen any new taxes lately that the booty never goes to where it is earmarked? I’ll bet you have. And the most telling is the last one. I believe there is a profit for the lender of 250% of the amount loaned. Great businerss deal there. And the interest is always paid off first as the foreclosed business catches the total of the kickback.
wy69
It won’t cost FJB one penny. He is buying votes, in part, with MY money.
More unpaid loans that will be "forgiven" so the rest of us can pay them.
Welfare by any other name is still welfare. And 32% of SBA loans are going to black businesses? Seems rather disproportionate.
AND Biden will declare all these black owned businesses won’t have to pay their loans back.
Yes it’s getting darker by the hour they have no clue what to do keep spending until we’re out of debt plan.
“...will declare all these black owned businesses won’t have to pay their loans back.
Since the early 80’s it appears that liberal administrations have no interest in balancing the budget. Clinton and Obama handed the next poor conservative administration the bill and then screamed when the economy was going to hell. This might be part of what they intend to hand to Trump in 2024. Our economy, our overseas platforms, our employment... They are saying Biden is not going to get elected by displaying the polls. Maybe Biden was put in there so they could say it wasn’t his fault everything went down the commode. And when they went looking in their own camp nobody wanted to get stuck with what they have planted. So Biden is it to lose.
wy69
GOVERNMENT SUPPORTED......
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