White House Pay Gap? Don't Even Mention Loan Inequality Under the Obama Administration
Small Business Administration gives few loans to female applicants -- blacks, even less
Trey Sanchez |
The Obama Administration is taking a beating over its hypocrisy over propagating the alleged "wage gap" between men and women after it has been shown that men are paid more than women inside the White House. Now, figures are showing that the Small Business Administration approves few loans for female applicants and even fewer for blacks.
BizJournals.com highlights the female side of the story. It states that the SBA's flagship 7(a) loan program supported an abysmal 16% of its total loans to women-owned businesses. They break that down into actual dollars: "women are only getting 12%" of SBA's budget.
If that is not bad enough, ThinkProgress.org, with the help of a Wall Street Journal report, shows that black-owned small businesses only receive 1.7% of SBA's budget amounting to only 2.3% of total SBA loans.
All courtesy of the purveyors of equality -- the Obama Administration.
In related news: On Monday, President Obama swore in his latest Cabinet addition, Maria Contreras-Sweet, as head of the SBA. But as BizJournals.com points out, two days later, she was "sitting in one of the smallest committee rooms on Capitol Hill" with only two senators present to hear her testimony. Part of that testimony was emphasizing more lending to "minority-owned businesses." But with only two senators present, "too bad hardly anybody was there to hear it."http://www.truthrevolt.org/news/white-house-pay-gap-dont-even-mention-loan-inequality-under-obama-administration