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Economically disadvantaged get priority. Lots of middle class fit into this category, including white males. Below is qualification for economically disadvantaged.
The net worth of an individual claiming disadvantage must be less than $750,000.
Funds invested in an Individual Retirement Account (IRA) or other official retirement account will not be considered in determining an individual's net worth.
SBA will presume that an individual is not economically disadvantaged if his or her adjusted gross income averaged over the three preceding years exceeds $350,000
An individual will generally not be considered economically disadvantaged if the fair market value of all his or her assets (including his or her primary residence and the value of the applicant/Participant firm) exceeds $6 million
Let's not play games and having an adult conversation should not be an issue.
conservatives define a "handout", while important, necessary, as an entitlement delivered without efficacious checks and balances to minimize, then prosecute fraud and abuse when and when it occurs.
Liberal white men business owners will be hurt by this policy as well. Do we always have to make everything liberal vs conservative?
Here is some information that will help you with your "adult conversation" which was sponsored by Breitbart and intended to get people angry ( invoke your reptilian brain area).
Quote:
According to data from the National Bureau of Economic Research, African American businesses saw a 41% drop in business activity from February until April, Latino businesses saw a 32% drop, and Asian businesses dropped by 26%. Female-owned businesses saw a similarly disproportionate effect with a 25% decrease in business activity.
That is in contrast to a 17% decrease white business owners have faced.
“Our focus will be on small businesses on Main Street that aren’t wealthy and well-connected, that are facing real economic hardships through no fault of their own,” ~ President Biden
Economically disadvantaged get priority. Lots of middle class fit into this category, including white males. Below is qualification for economically disadvantaged.
The net worth of an individual claiming disadvantage must be less than $750,000.
Funds invested in an Individual Retirement Account (IRA) or other official retirement account will not be considered in determining an individual's net worth.
SBA will presume that an individual is not economically disadvantaged if his or her adjusted gross income averaged over the three preceding years exceeds $350,000
An individual will generally not be considered economically disadvantaged if the fair market value of all his or her assets (including his or her primary residence and the value of the applicant/Participant firm) exceeds $6 million
A small business concern that is at least 51 percent owned by one or more individuals who are:
Women, or
Veterans, or
Socially and economically disadvantaged (see below).
Here is some information that will help you with your "adult conversation" which was sponsored by Breitbart and intended to get people angry ( invoke your reptilian brain area).
“Our focus will be on small businesses on Main Street that aren’t wealthy and well-connected, that are facing real economic hardships through no fault of their own,” ~ President Biden
and here is the definition of Who is economically disadvantaged?
The net worth of an individual claiming disadvantage must be less than $750,000.
Funds invested in an Individual Retirement Account (IRA) or other official retirement account will not be considered in determining an individual's net worth.
SBA will presume that an individual is not economically disadvantaged if his or her adjusted gross income averaged over the three preceding years exceeds $350,000
If the business owner fits the above description, skin color should be irrelevant.
Here is some information that will help you with your "adult conversation" which was sponsored by Breitbart and intended to get people angry ( invoke your reptilian brain area).
“Our focus will be on small businesses on Main Street that aren’t wealthy and well-connected, that are facing real economic hardships through no fault of their own,” ~ President Biden
As I said before, this is a very, very broad generalization, and has nothing to do with an individual person's circumstances. So a person who needs help should have to wait an extra three weeks to get it because people in the group that he happens to belong to have only seen a 17% decrease in business, as opposed to 25%? What sense does that make?
If anyone here seems to be angry it's you, by the way.
the definition of disadvantaged in the business world means:
The net worth of an individual claiming disadvantage must be less than $750,000.
Funds invested in an Individual Retirement Account (IRA) or other official retirement account will not be considered in determining an individual's net worth.
SBA will presume that an individual is not economically disadvantaged if his or her adjusted gross income averaged over the three preceding years exceeds $350,000
The policy makers should just stop right there. Adding women, veteran, minorities is such a waste of time.
A small business concern that is at least 51 percent owned by one or more individuals who are:
Women, or
Veterans, or
Socially and economically disadvantaged (see below).
lol Our policy makers are just beyond help.
Many small businesses are family owned. Husband and wife 50% and 50% equal ownership.
If the wife owns 50% of the business, she is not eligible?
If the wife owns 51% and husband owns 49% of that business, that business is magically women owned business? lol
Trump signed the Cares Act into law on 3/27/20. Part of the law was to provide small business loans. A report found that minority owned businesses were often denied these loans.
Quote:
A new report from the Small Business Administration's inspector general found that businesses owned by people of color may not have received loans as intended under the Paycheck Protection Program. There was no evidence, the report said, that the SBA told lenders to prioritize business owners in "underserved" markets, including business owners of color — something the CARES Act had specifically instructed the SBA to do.
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