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AP National Business

Harris, Yellen focus on community finance at Freedman Forum

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Published 4:00 AM

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — Vice President Kamala Harris and Treasury Secretary Janet Yellen will host a forum to highlight how coronavirus pandemic relief dollars have helped support Black- and minority-owned businesses. The Treasury Department says the importance of making sure the community finance system supports minority businesses will be “front and center” at this year’s Freedman’s Bank Forum next week. About 96% of Black-owned businesses are sole proprietorships and single-employee companies. These small businesses have the hardest time finding funding and are often the first to suffer during economic downturns. The forum will include a panel on new support for community finance institutions, small businesses and low wealth communities.

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