Latinx-owned small businesses are proving resilient in their recovery from the coronavirus crisis. Most were forced to shut down, but over three-fourths have reopened their doors.
So says a new national report from L.A.-based fintech firm Camino Financial that looked at the impact of the pandemic on these businesses.
- Pension Funds Could Be Key to Adding Diversity to VCs - dot.LA ›
- Ten Venture Capital Firms Commit to 'Diversity' Rider' - dot.LA ›
- Minority-Owned Businesses Were Hit Hard by COVID-19 - dot.LA ›
The pandemic has put Hollywood productions out of commission, but at least one entertainment company — L.A.-based Jukin Media Inc. — seemed to be hitting its groove by finding a new niche in entertaining quarantine videos.
Yet despite millions in the bank and on the balance sheet, Jukin also took $2.2 million in Paycheck Protection Program (PPP) funds, according to data released by the U.S. Small Business Administration and confirmed by the company.
- How UGC and Covid-19 Are Changing Hollywood - dot.LA ›
- Funny Quarantine Videos Are a Bonanza for Jukin Media - dot.LA ›
- LA Tech Updates: Jukin Media Gets a New Co-CEO and Promotes 2 Other Execs - dot.LA ›
- Peacock Launches Tokyo 2021 Olympics Stream - dot.LA ›
- LA Tech Updates: Jukin Media Gets a New Co-CEO; Snap Expands Developer Program - dot.LA ›
- Jukin Media Launches New UGC Video Portal - dot.LA ›
Bird, the Santa Monica-based e-scooter unicorn valued at $2.77 billion dollars, is listed in a database of thousands of companies that the Small Business Administration (SBA) made public Monday that received Payroll Protection Program (PPP) loans. According to the SBA, Bird received a loan of between $5 and $10 million in late April to help it retain 341 jobs, which was a month after it laid off 406 employees via Zoom.
But in a statement, Bird said it never applied for the funds and it was trying to determine why it was included on the list. "Bird was erroneously listed as a company that filed for a PPP Loan," the company said.