Date uploaded: 2022-10-08 17:34:59

LGBTQ-owned businesses were less likely to get COVID relief loans, according to a study published by the Center for LGBTQ Economic Advancement and Research and the Movement Advancement Project. Experts told USA TODAY that "poorer economic conditions" on average among LGBTQ-owned small businesses hurt them when it came time to apply for COVID relief – even though Congress said it "targeted funding to the smallest and minority-owned businesses." The percentage of LGBTQ-owned businesses rejected for loans indicates underlying systemic economic discrimination, according to researchers. The study authors were able to access the data because the Federal Reserve Banks' annual Small Business Credit Survey included questions about LGBTQ identities for the first time in 2021. Read more about the report and how the lack of COVID relief has affected small LGBTQ businesses through our link in bio. #lgbtq #covid