Durham: The Durham community has new businesses that have opened their doors with the support of loans from the U.S. government directed to the black community.
On February 1, Isabel Guzman, head of the U.S. Small Business Administration (SBA), visited Durham to kick off Black History Month.
At the end of this visit, accompanied by Durham Mayor Leonardo Williams, he attended the opening of a new black-owned business.
This is Missy Lane's meeting room.
The venue serves as a creative hub, piano bar, café and event space for the Durham community.
Missy Lane Assembly Hall first opened its doors in 2024 after receiving an SBA-backed loan in 2023.
Located at 310 E Main St, Durham, NC 27701.
The official previously traveled to a nursery owned by a Black woman, Kate Koerner, that opened during the Biden administration's small business boom.
The location opened after obtaining an SBA loan.
This daycare is located at 359 Blackwell St, Durham, NC 27701 and is another of Durham's new businesses owned by people from the black community.
Guzman toured the facility and met with the daycare owner to learn how the government's Small Business Administration supports empowering Black-owned businesses.
Administrator is the voice of President Biden's government for more than 33 million small businesses in the United States.
Businesses from the black community receive more support
In 2023, Black entrepreneurs in the United States received $1.5 trillion in Small Business Administration loans.
The official stressed that under the Biden administration, the total number and dollar amount of SBA-backed loans to Black-owned small businesses has doubled.
On this occasion, she handed over certificates of appreciation to three local lenders.
These are Carolina Community Impact, the National Minority Economic Development Institute, and the Metropolitan Institute.
These lenders have been recognized for their work in providing capital to traditionally underserved communities.
The US government signs an agreement to support black entrepreneurs
As part of her visit to Durham, Isabel Guzman celebrated an agreement with the African American Alliance (the Alliance) to empower and support Black entrepreneurs in the country.
The agreement was signed by Guzman and Linwood V. Long, Sr., CEO of The Alliance.
The goal of this agreement is to work to empower and support Black small businesses.
During his visit, Guzmán highlighted that the President champions Black entrepreneurship in North Carolina and throughout the United States.
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