Page 2 The Skanner December 16, 2015
Challenging People to Shape
a Better Future Now
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Opinion
What Has Happened to Black Business Loans?
D
uring the 2000 Presi-
dential Election, Pres-
ident George W. Bush
made a written pledge
to the National Black Cham-
ber of Commerce® (NBCC). He
claimed that he would focus
on the doors leading to in-
creasing capital access for mi-
nority businesses. To our as-
tonishment, he delivered on
that pledge while candidate
Al Gore refused to make such
a pledge. That pledge began
eight years of positive growth
in Small Business Adminis-
tration (SBA) lending.
The above activity soon be-
gan to disappear for two rea-
sons: The effects of the sub-
prime mortgage crisis and
the lethargic activity coming
out of the Obama SBA.
President Obama figured
the quick fix would be more
and more regulation. In 2010,
he signed the Dodd-Frank
Amendment, which piled
“mountains” of paperwork
and rules onto our banking
institutions. The pushback
was major banks began refus-
ing to underwrite small loans,
inclusive of the guaranteed
SBA loans. When President
Bush left office, the SBA was
doing more than 8 percent in
loans to Black businesses. To-
day, under the Obama apathy
and immense regulations, the
SBA is doing less than 1.8 per-
cent in lending to Black busi-
nesses.
Harry C.
Alford
NNPA
Columnist
According to the Valley Eco-
nomic Development Center,
“SBA loans to African Amer-
icans declined 47 percent be-
tween 2009 and 2013, even as
overall SBA loan volume rose
roughly 25 percent during
the same period.”
Doesn’t this paint the pic-
ture?
“
ly “seized” them as they ap-
proach bankruptcy.
Will they bounce back? That
is doubtful as right now the
Obama Administration is try-
ing to liquidate the two firms.
We are fighting against this
effort.
The above should be a hot
topic during the presidential
debates but so far there has
been no traction. We are go-
ing to bang the “drums” much
harder for it to become a ma-
jor political issue.
There is one hidden blessing
coming out of the Dodd-Frank
Amendment. Under current
banking law, commercial
SBA loans to African Americans
declined 47 percent between 2009
and 2013
The subprime mortgage cri-
sis devastated the net worth
of Black families.
That net worth was based
on equity in our homes. The
homes have disappeared in
many of our communities and
with it went the equity, which
made new entrepreneurs
bankable.
The biggest players in the
mortgage business were Fan-
nie Mae and Freddie Mac.
These two government-spon-
sored enterprises are now
“owned” by the Obama Ad-
ministration as he virtual-
banks cannot record the de-
mographics of their lending
(except SBA loans). This is
called Regulation B. Our im-
plementers of the Civil Rights
Act of 1965 thought this would
help prohibit discrimination.
If there is discrimination in
lending what better way to de-
tect it than tracking the num-
bers and volume?
We have been fighting for
the expulsion of Regulation B
for over twenty years.
Thank God it is going away
by way of the Dodd-Frank
Amendment. It has been tak-
ing years to happen but with-
in the next three years, under
a new Administration it is go-
ing to happen. Hopefully, our
Congressional Black Caucus
will focus on this opportunity
and police the activity.
Two other things can help.
First, lenders must target cer-
tain markets such as Los An-
geles, New York, Chicago and
other markets that have large
Black populations and more
Black business opportunities.
Second, we must recruit
more EB-5 investors into our
communities. A holder of an
EB-5 visa can migrate to this
nation with special status
providing he or she invests at
least $500,000 (soon to be $1
million) into an underserved
community. Chinese, Saudis,
Indians etc. are participating
in this program in an expo-
nential way. What a wonder-
ful program to take advantage
of. It is time for Black commu-
nity developers and leaders to
pick up the pace in EB-5 activ-
ity for their neighborhoods.
The National Black Cham-
ber of Commerce is dedicat-
ing 2016 to the emergence of
more capital access for our
business members. The plans
will start unfolding early next
year. Stay tuned.
Mr. Alford is the co-founder,
President/CEO of the National
Black Chamber of Commerce®.
Website: www.nationalbcc.org.
Life Transforming Insight from the Real Results Expert
D
r. Clarice Fluitt is a
powerful motivational
speaker,
internation-
ally recognized Chris-
tian leader and accomplished
businesswoman. She is a suc-
cessful entrepreneur with a
long history in real estate de-
velopment.
As a life strategist and high-
ly sought after personal ad-
visor, Dr. Fluitt’s messages
bring inspiration and inno-
vation to every audience she
encounters. Her insights and
thought provoking delivery
have solidified her position
as a renowned motivational
speaker and transformation-
al voice - impacting countless
lives daily.
Dr. Clarice has been a global
trainer for more than four de-
cades. Her success is based on
her ability to help individuals
and organizations get real
practical results. Her experi-
ences as corporate and execu-
tive coach, entrepreneur, and
strategic consultant allow her
to share her proven strategies
for building customer value,
creating revolutionary prod-
ucts, inspiring innovation,
and generating sustainable
growth.
Her book, Ridiculous Mir-
acles, demonstrates and is
an expression of Dr. Fluitt
as a time-proven prophetess
Willie
Jolley
NNPA
Columnist
portunity to overcome be-
fore you can “come over.”
• If you are not a solution to
the pollution of poverty,
you will become a partaker
in it.
• Wisdom is the ability to use
knowledge skillfully.
with laser like accuracy. Her
life and book are remarkable
chronicles of hilarious re-
al-life stories, tragic trials,
tests, and moving visitations
of the Lord.
Dr. Fluitt’s mantra is that a
person with an experience is
“
• Do not start a work without
a Word from God.
• Knowledge of a thing is not
necessarily possession of it.
• Instruct people from prin-
ciples and foundations that
are eternal.
Dr. Fluitt’s mantra is that a person
with an experience is more valu-
able than a person with only an
opinion
more valuable than a person
with only an opinion! She be-
lieves “much of our wisdom
and insight into transforma-
tional living is learned in the
shallows of life, activated in
the deep places, and grown in
the depths of living.”
Dr. Clarice’s SiriusXM in-
terview insights will inspire
you to look behind every rock
for your next opportunity!
.She says:
• You will always have an op-
• Proximity is power. Sur-
round yourself with cham-
pions. Aspire to greater
heights through the process
of intentional connections.
• Correction is not rejection.
• Surround yourself with
those who celebrate you
and your life,
• Focus determines your suc-
cess. Help people uncover
their passion and focus by
giving them a guide.
• Learn to listen intentional-
ly and practice being fully
engaged.
• Think not only good
thoughts but also God
thoughts that will always
give us new ways, ideas,
and opportunities to create
more avenues of revenue.
• How you think about fail-
ure can determine how
high you will ascend as you
climb the ladder of success.
• With each promotion,
advancement, and break-
through comes your oppor-
tunity to be the creator of
your atmosphere that con-
verts potential into reality.
• We may see walls separat-
ing us from our dreams and
goals. They’re not walls at
all. They’re God’s call that
demands great leaps of faith
on our part, for a successful
journey through life.
• Honor your commitment to
yourself. Invest in yourself.
Follow through with your
dreams and visions.
• Nothing happens until
you act. Think ridiculous
thoughts. Expect ridiculous
results. Decide to live a ri-
diculous life for Ridiculous
Miracles EVERYDAY.