United in Resilience: How Black Businesses Foster Financial Support Amid Falling Investments

LOS ANGELES — The pandemic ignited a pivotal racial awakening following George Floyd's death, spurring support for Black businesses that has since diminished. In 2024, the Small Business Administration provided $1.4 billion in loans to Black entrepreneurs, a fraction compared to the $12 billion allocated to white owners. Black entrepreneur Blake Van Putten emphasizes unity for growth, connecting with fellow business leaders like Coffee Del Mundo’s Jonathan Kinnard. His LA-based fashion line, CISE, aims to empower the community, although funding has notably decreased. Kinnard echoes these sentiments, stating access to financial resources has significantly diminished post-pandemic.