Chernenko, Sergey; Kaplan, Nathan; Sarkar, Asani; … - National Bureau of Economic Research - 2023
We use the 2020 Small Business Credit Survey to study the sources of racial disparities in use of the Paycheck Protection Program (PPP). Black-owned firms are 8.9 percentage points less likely than observably similar white-owned firms to receive PPP loans. About 55% of this take-up disparity is...