Issue link: https://nebusinessmedia.uberflip.com/i/1277945
14 Worcester Business Journal | August 17, 2020 | wbjournal.com PPP loan receipients identifying as Black-owned Source: U.S. Small Business Administration Company name Loan amount City Jobs retained Industry Business type Ace Medical Services $350,000-1 million Worcester 97 Health care and social assistance Corporation Acclaim Home Health Care $150,000-$350,000 Worcester 37 Health care and social assistance Subchapter S corporation Not disclosed $146,200 Milford 15 Health care and social assistance Corporation Not disclosed $145,832 Worcester 9 Health care and social assistance Corporation Not disclosed $133,600 Franklin 14 Health care and social assistance Corporation Not disclosed $111,800 Sturbridge 24 Accommodation and food services Limited liability company Not disclosed $110,620 Douglas 22 Manufacturing Corporation Not disclosed $100,000 Worcester 10 Real estate rental and leasing Corporation Not disclosed $69,300 Worcester 10 Other services Corporation Not disclosed $51,200 Grafton 5 Health care and social assistance Subchapter S corporation Not disclosed $50,600 Worcester 14 Educational services Limited liability company Not disclosed $45,600 Leominster 5 Retail trade Limited liability company Not disclosed $41,510 Fitchburg 5 Arts, entertainment and recreation Corporation Not disclosed $40,465 Hopedale 2 Arts, entertainment and recreation Subchapter S corporation Not disclosed $37,500 Worcester 8 Health care and social assistance Corporation Not disclosed $35,000 Ayer 9 Other services Non-profit organization Not disclosed $29,980 Hudson 8 Other services Corporation Not disclosed $29,800 Grafton 4 Retail trade Subchapter S corporation Not disclosed $26,543 Worcester 5 Retail trade Corporation Not disclosed $18,700 Worcester 1 Transportation and warehousing Sole proprietorship Not disclosed $16,800 Worcester 1 Finance and insurance Self-employed Not disclosed $14,305 Worcester 4 Transportation and warehousing Subchapter S corporation Not disclosed $13,600 Worcester 1 Finance and insurance Limited liability company Not disclosed $11,737 Framingham 2 Retail trade Subchapter S corporation Not disclosed $11,300 Worcester 5 Accommodation and food services Limited liability company Not disclosed $10,000 Maynard 1 Transportation and warehousing Self-employed Not disclosed $8,930 Franklin 3 Manufacturing Limited liability company Not disclosed $8,300 Natick 1 Health care and social assistance Sole proprietorship Not disclosed $8,300 Worcester 1 Transportation and warehousing Sole proprietorship Not disclosed $8,100 Worcester 1 Wholesale trade Limited liability company Not disclosed $6,550 Fitchburg 4 Accommodation and food services Sole proprietorship Not disclosed $3,400 Marlborough 8 Health care and social assistance Partnership Not disclosed $2,500 Acton 1 Transportation and warehousing Self-employed Not disclosed $2,200 Worcester 3 Health care and social assistance Corporation Not disclosed $1,500 Ashland 2 Professional, scientific and technical services Corporation Continued from Page 9 testers were discouraged from applying for a loan, or asked more questions about their business. Other findings include a national survey in mid-May from the equal rights groups Color of Change and Unidos finding 8% of Black business owners re- ported receiving the financial assistance they requested from the PPP program. Another 23% said they received no assistance. Rashad Robinson, the president of Color of Change, told e New York Times the lack of financial assistance could mean the end of many of the businesses. "If we don't get policies to protect these communities," Robinson said, "we will lose a generation of Black and brown businesses, which will have deep impacts on our entire country's economy." Compounding the issue is Black- and other minority-owned businesses have been found to be disproportionately hurt by the pandemic to begin with. A working paper by Robert Fairlie, an economics professor at the Univer- sity of California Santa Cruz, found Black-owned businesses to have failed in the first months of the pandemic at nearly double the rate of those overall: 41% compared to 22%. Hispanic-owned businesses failed over that period – from February to April – at a rate of 32%, Cruz found. W