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Minority Coalition Calls Out Small Business Administrator Mills

 

 


 

 

“It is time for SBA Administrator Karen Mills to prove that she is an agent of change for minority businesses and not a “politician of capital” as many SBA Administrators of the past.  But for the first year minority businesses are witnessing that Administrator Mills lacks both the courage and leadership to provide true access to capital for minority businesses that are the cornerstone for job creation in distressed minority communities.  The facts speak tor themselves:  Decline in SBA Loans:  45.3% (Latinos) 30.8 % (Asian) 19.7% (African Americans).  Since the days of Abraham Lincoln, the federal government was the only governmental body that communities of color could rely on to provide some sense of protection from racism or outright bigotry.  We witnessed this with the end of slavery, civil rights legislation and continued civil rights violations by the Federal Attorney General’s office.  The U.S. Small Business Administration is a federal agency that must follow this same path to ensure that minority businesses are engaged in the global economy.  Minority Low and moderate income communities (which is over 70% of them) have unemployment rates of over 20% on the average.  Poverty rates are always in line with these unemployment rates.  Small businesses are the foundation of job creation in our communities and capital is their fuel.  A good paying job will allow the accumulation of assets for people of color but our families are asset poor compared to Whites (16.4 White vs. 37.2% people of color).  Asset building is the cornerstone for stabilizing distressed communities.  But without capital this is merely a mirage.  Capitalism without Capital is just an ISM…the U.S. SBA Administration is contributing to massive ISM’s in communities of color.  It is time for you to step up to the plate for communities of color that will allow our families to become significant contributors to our nation’s Gross Domestic Product.  We at FMCRC call on the U.S. Small Business Administration to do the following:  

 

 

 

         Participate in regional panels on access to credit for minority-owned small businesses

         Advocate that ARRA dollars are allocated equitably to minority-run businesses

         Provide increased SBIC investment 0pportunities for Minority Owned Enterprises

         Increasing Diversity in your top management at SBA

         Develop a nationwide diversity advisory panel to engage solutions to the decline of SBA lending to minority businesses

 

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Save The Date:
Let's Do Business Florida
www.letsdobusinessflorida.com
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Small Business Investment Companies:

-$8.2 billion of Tax Payer Investment
-Less Than 3% Investment into minority companies
-FMCRC Calls on SBIC's To Reverse Economic Segregation
-Target Minority Companies For SBIC Investment:  
Automotive Suppliers- Dealers, Service, Technology & Information

 

www.fmcrc.org

Join us today!

 


 

Please direct all questions, concerns, comments, and media inquiries to:
FMCRC
Email:    Porfiria Ramirez 
admin@fmcrc.org

2302 W. St Louis Ave Tampa FL 33607 
(941) 284-0688

Civil Rights and legal issues or comments to:
Reginald J. Clyne
Clyne & Self, P.A./Civil Rights Attorney
Douglas Centre-Suite 1100
2600 Douglas Rd, Coral Gables Florida  33134


STORY TAGS: minority, coalition, small, business, administrator, Karen Mills, minority, business, loans, loan, policy, minority, black, african, american, latino, asian, latin, hispanic, processing, request, denial, payment, profiling, target, targeting, black radio network, minority news, sba, florida, fla, business administration



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