A publicly traded Indiana-based maker of sporting goods24 that already had a $50 million credit line from JPMorgan Chase wound up with a $5.6 million loan. Major restaurant chains, pharmaceutical companies, and hotel franchises got loans without having to do anything, while businesses that lacked an established connection with America’s largest bank got free enterprise. Which is to say, very little. Businesses owned by African Americans, Latinos, and women were largely shut out. The program would ultimately distribute 650,000 loans worth at least $150,000 each. Only 143 Black entrepreneurs25
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