LGBTQ-owned small businesses received COVID-19 relief funds at a lower rate than their non-LGBTQ counterparts, even as they were more likely to apply for loans during the pandemic, according to researchers.
The report, published by the Center for LGBTQ Economic Advancement and Research and Movement Advancement Project, analyzed data from the Federal Reserve Banks’ annual Small Business Credit Survey, which included questions about LGBTQ identities for the first time in 2021.