Black-owned businesses nearly twice as likely to close amid the coronavirus pandemic, New York Fed study finds

Business Insider

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· Between February and April, 41% of Black-owned small businesses closed, according to a New York Federal Reserve study released Tuesday.
· That's nearly twice the 22% of all businesses that shuttered in the same timeframe, the study showed. 
· "These firms had weaker financial cushions, weaker bank relationships, and...

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