Black Canadians get business loans with national banks.Prime Minister Justin Trudeau says the COVID-19 pandemic has disproportionately affected Black Canadians and put a spotlight on inequality in Canada.The total value of the program was pegged at $221 million over four years, with $93 million of that coming from the federal government and the rest from Canadian financial institutions.The new program will include $53 million for Black business organization to help entrepreneurs access funding, mentorship, financial planning and business training.Another $6.5 million will go to collect data on the state of Black entrepreneurship and identify the barriers preventing Black Canadians from succeeding in business.Ottawa and eight major financial.
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