New research by the Cleveland Business Journal finds that the Small Business Administration has reduced lending to Black owned businesses by 84%, reports Cleveland.com.

The Small Business Administration has decreased its loans given to Black-owned businesses 84% since peaking before the Great Recession, according to research by the Cleveland Business Journal.

 As the burden of debt continue pilling up due to the damage that the coronavirus continues to leave behind, many businesses are operating at a loss. Some are even on the brink of insolvency. As such, most of these businesses are looking for ways to remain afloat even as the burden of fixed charges keeps weighing them down even after closure of operations. Most of those facing the most significant challenge are the small businesses.