As gridlock over another round of stimulus for small business in Washington continues, 5 million Latinos are at risk of bankruptcy, a new study reveals on Monday. Pre-pandemic they were the fastest-growing cohort on Main Street and contributed 4% to U.S. GDP. Their demise portends a troubling trend that can upend communities across America.
Statistics reveal the story. Latino companies that applied for the Paycheck Protection Program saw a 21% drop in revenue from February through September while their costs for PPE and other safety measures rose and continue to remain high.