According to Anthony Gaddy, President of the Upstate New York Black Chamber of Commerce, "A little-known problem has exacerbated access-to-capital challenges and disproportionately targets business owners of color. This invisible perpetrator continues to pose a grave threat to the success of our business community and we must bring it into the light before it is too late."
Gaddy goes on to make the case for the NYS Small Business Truth in Lending Act in the Kingston Wire. "As our small-business community remains vulnerable to a pandemic with no end in sight and continues to be shut out of getting bank loans, the need to implement the Small Business Truth in Lending Act could not be more critical. I urge Governor Cuomo to bring sunshine to the alternative financing market and implement the Act as soon as possible. Our businesses cannot afford to wait."
Read the full article as a PDF here.