Other Voices
Here’s what President Trump is doing to help underserved communities, minority businesses
After much work and dedication, we are witnessing a comeback in the U.S. economy.
Thanks to the efforts to assist America’s entrepreneurs through the CARES Act, job numbers are beginning to improve. We saw 2.5 million jobs created in May, and the unemployment rate started to drop.
Also in May, African American employment increased by 283,000. Progress is happening, and we realize there is much more work to do.
As the Trump administration leads the way to a great comeback, I joined the president Thursday in Dallas as he hosted a roundtable at a church. Included in the discussion were faith and community leaders and small-business owners who discussed solutions to historic economic, health, and justice disparities in American communities.
The trip to Dallas represented one of many efforts we are pursuing to uplift historically underserved communities and to help entrepreneurs recover from the challenges they have faced during the COVID-19 pandemic. The support of business growth is creating the path to restoring our economy to historic heights.
The Paycheck Protection Program, which was created through the CARES Act and delivered through the U.S. Small Business Administration and the U.S. Treasury, has delivered loans to small businesses across the country, saving tens of millions of jobs. There is still $130 billion available, and our goal is to place these funds into the hands of small businesses that need it the most before the June 30 deadline for loan approvals.
We are working with the 20 leading minority-owned banks across the U.S. as well as Community Development Financial Institutions, to listen and learn the best way to reach entrepreneurs in underserved communities and deliver resources to recover.
We want to make sure that small business owners have the tools they need to recover and prosper through the Paycheck Protection Program. We are also working to provide them with technical assistance and business counseling so that their success goes well beyond the recovery period.
Economic opportunity for our nation means uplifting every American through a record strong economy, historic lows in minority unemployment, criminal justice reform, increasing school choice and boosting previously neglected communities through Opportunity Zones.
These are all topics that were discussed Thursday in Dallas and will continue to be a priority for the Trump administration. The U.S. is known for its resilience and strength, and together, we can all be a part of the great American comeback.
Together, we will continue to bring economic opportunity to our most vulnerable communities.
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