To date, the Small Business Administration's (SBA) Paycheck Protection Program (PPP) has failed to deliver for Black and Minority America. Of the $670 billion allocated to SBA PPP, only $20 billion (3%) were disbursed via Minority Financial
Institutions (MFI).
CommCap America quickly assessed the challenges, hired the proper personnel, and created an automated end to end technology solution to ensure that Black and Minority-owned businesses have greater access
to SBA PPP funding.
At CommCap America, we believe that preparing Black and Minority communities for capital is just as important as preparing capital for the community.
Our Mentor-Protégé-Program (MPP) is a scalable technology and institutional
knowledge platform with programing designed to stabilize and improve the financial literacy and financial institutions in underserved communities.
At CommCap America we understand that small businesses are the key stabilizing and growth engines to any community. Our technology, fully automated approach to building community-based Black & Minority owned sustainable & scalable
small business solutions. The average annual revenue for a Black or Latino owned small business is $12,000-$20,000 per year as opposed to our White owned
small business which ranges from $164,000 - $179,000 per year. This has contributed
to a significant wealth gap and the difference between sustainable communities vs. distressed struggling communities.
Our Small Busines Program is designed to provide long overdue solutions to the challenges that have plagued our
Black & Minority owned businesses. We will not only shore up distresses businesses, we will also create thousands of new Blacks & Minority Business owners which will drive the revitalization efforts of communities throughout the
United States of America.
