Below is the data summary for round 1 approved grants. Of the close to 5,000 small businesses approved in the first round of funding, more than 2,500 (51%) are historically disadvantaged businesses that have traditionally experienced discrimination when seeking financial services and financial products. Over 2,400 of the businesses are located in rural communities and disadvantaged areas and more than 1,200 in communities targeted for business investment by state government programs like Main Street and Elm Street.
More than two thirds of the approved awardees are women-owned businesses and 16% located in rural communities. The businesses represent industries that have been especially hard hit by the pandemic including retail, food and hospitality, health and wellness, and personal care. See the graphs below for more detail.
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