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Loevy & Loevy Investigates and Combats Racially Discriminatory Lending

By Megan Pierce Loevy & Loevy is taking on banks that discriminate against minority-owned businesses. Though some banks have been engaging in racially discriminatory practices for centuries, the Paycheck Protection Program (PPP) has thrust these practices into the spotlight. Congress created the PPP to benefit all small businesses with taxpayer-funded loans during the unprecedented COVID-19 pandemic, which has shuttered businesses across…

blacks in business

Black In Business: Celebrating the Legacy of Black Entrepreneurship

As we celebrate Black History Month 2020, Forbes has put together an awesome article giving history of the legacy of black entrepreneurship in America. Written by Ruth Umoh and Brianne Garrett, the article provides facts, videos, bios and a timeline of black entrepreneurship in this country. Here is an excerpt of the piece written by Ruth Umohand we encourage you…

Minority people

Illinois Entrepreneurs Hope New Dispensary Licenses Will Benefit Minority Business Owners

Source: NBC Chicago Thursday was the last day to apply for 75 new dispensary licenses in Illinois As marijuana sales in Illinois get off to a roaring start in 2020, three dozen entrepreneurs gathered at the Thompson Center to apply for dispensary licenses. State officials say that dispensaries brought in nearly $3.2 million in sales on the first day that…

Vistex Building

Chicago’s Biggest Minority-Owned Businesses 2019

by Kasey Hariman Chicago’s Biggest Minority-Owned Businesses 2019 According to Crain’s List, enterprise software company Vistex is at the top of the 2019 list of Chicago’s biggest minority-owned businesses. Vistex has the top spot with both the highest revenue and the largest total full-time employee headcount. Crain’s List has the following minority-owned businesses in the top seven spots. Vistex, Inc.…

minority business owners

Small Business Facts

Small Business Facts Spotlight on Minority-Owned Employer Businesses May 2019, Nora Esposito, Research Fellow At A Glance According to the Census Bureau’s latest Annual Survey of Entrepreneurs (2016), there are 1,054,575 minority-owned businesses with employees in the United States. Overall, 20 percent of all employer businesses were at least 51 percent owned by minority entrepreneurs, employing 8.7 million workers at…

minority business owners

Illinois New Funding for Capital and Infrastructure Program to Support Growth of Minority-Owned Businesses

Chicago, IL – Today the Department of Commerce and Economic Opportunity’s Office of Minority Economic Empowerment is posting two Notification of Funding Opportunities for a total of $15 million to provide minority-owned businesses with resources to help create jobs, build capacity, increase revenues, and expand regionally. The announcement marks the first time the program has been funded. “My administration is committed to…

black business men

Outside Chicago, Few Minority-Owned Contractors for Central Illinois Work

Outside Chicago, Few Minority-Owned Contractors for Central Illinois Work by Tom Lisi for Herald & Review DECATUR — One problem remains three years after the city council approved an ordinance to give more opportunities to minority-owned businesses on public works projects: The small pool of qualifying businesses. The mandate requires contractors on city projects to make a “good-faith” effort to have 10…

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