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REBOUND: How black America can recover from its depression city by city
Where's Ours: stimulating the black economy National Black Business Month
August 2010 State by State Data Bank: Resources, Issues, Contacts
31 WAYS TO CREATE JOBS IN 31 DAYS INFORMATION BE PART OF THE NATIONAL SHARING OF BEST PRACTICES FOR INCLUSIONARY ECONOMIC DEVELOPMENT DURING THE FOUNDERS SYMPOSIUM AUGUST 2. REGISTER TODAY VISIBILITY CONNECT ENTREPRENEURS WITH EXPERTISE AND CAPITAL THROUGH CATAPULT INNOVATION COMPETITION AND BLACK ENTREPRENEURS UNIVERSITY Accountability IDENTIFY AND ASSESS EFFORTS TO INCREASE AND GROW BLACK BUSINESSES Call 415-685-6949 for more info. http://www.wix.com/blkhztry/wheresourstimulusshapeimage_43_link_0
Focus on Access to Capital  
 
Reviving small business lending to
African-American owned enterprises
A region by region analysis of Small Business Administration data shows that SBA 7a and developing company loans to African-American-owned businesses declined as much as 80 percent in every region of the country from the high points in fiscal years 2007 and 2008.
The agency issues guarantees to private banks and other lenders which actually make the loans. Overall lending to all small businesses, classified as firms with less than $7.5 million in sales, dropped about a third from 2006 to 2010 as a result of the economic downturn. However, the decline for black-owned companies was twice as steep.  SBA generally requires that loans result in creating at least one job for every $65,000 lent.  The $769 million difference between the highest loan volume in 2008 and 2010 total might have created 12,000 jobs.
In the region headquartered in Boston, loans in the main 7a lending program  dropped from a high of 193 in 2008 to 39 in 2010. Loan volume went from $32,576,000 to $4,615,000.
The New York region went from a high of 745 loans in 2007 and a top loan volume of $70,340,000 in 2008 to 112 loans to black businesses worth $16,582,000 in 2010.
For the Philadelphia region, the most loans came in 2007 with 1,145 before declining to 182 in 2010.  Largest loan volume was $98,992,000 in 2007. The 2010 volume was just $22,719,000.
The Atlanta region led the country from 2006 to 2010, but had similar declines.  Its top number of loans was 2,517 in 2007 before falling to 496 in 2010.  The highest volume of $210,828,00 in 2008 went to $61,726,000 in 2010.
Across the Chicago region, the number of loans to black businesses fell from 1,283 in 2007 to 202 in 2010. Volume dropped from $126,786,000 in 2008 to $30,272,000.
In the Dallas region, a high of 1,265 loans in 2008 to black firms dropped to 252 in 2010.  Loan amounts went from $122,299,000 in 2008 to $44,478,000 in 2010.
For the Kansas City region, the high point of 239 in 2007 to 49 in 2010 and volume from $19,989,000 in 2008 to $4,837,000 in 2010.
The Denver region dropped from 149 loans to black businesses in 2008 to 41 in 2010.  The loan volume fell from  $25,868,000 in 2007 to $5,478,000 in 2010.
Along the region based in San Francisco, the number of loans went from 1,336 in 2007 to 117 in 2010.  The amount of loans approved went from $180,352,000 in 2008 to $28,757,000 in 2010.
Up in the Seattle region, loans dropped from 149 in 2008 to 41 in 2010.  Loan volume dropped from $25,212,000 to $12,189,000.
The dramatic decline in lending to African-American owned businesses is comparable to the overrepresentation of black homeowners among sub-primte mortgages, which led to the overall financial crisis and a $700 billion Troubled Asset Recovery Program which invested as much as $45 billion in money center banks to prevent failures.   A rationale for TARP was to keep business credit available.  Small businessses of all races have complained that has not been the case, but the situation seems particularly acute for African-American owned companies.
 
MOBILE What You NEED When you NEED IT Ageless wisdom for Black History Month “Knowledge gives to its possessors a power and a superiority over the uncultivated, real and substantial. The ignorant must give place and yield to the intelligent and educated; it is a law growing out of the nature of things.” “We are engaged in a great work: it is this, we aim to render overselves equal with the most favored, not simply nominally equal, but truly and practically, in knowledge, energy, practical skill and enterprise. The past has been to us full of wrong and suffering; we are not content with our present condition; it remains for us to say whether we will continue in this position.” Education Statement of the Colored Convention of California November 1855 drafted by Rev. John J. Moore, First A.M.E. Zion, San Francisco and Rev. T.M.D. Ward, Bethel A.M.E. San Francisco