I think I have told you guys before, but I work for a small hospice and my boss/owner is a black woman. That’s important for you to know. Also important, the company has been around for 5 years and been in the black for all of those years. Now the story.
My boss, let’s call her Emma, went to the bank that we have our business acct with, to ask for a 50k line of credit. She was encouraged by one of the bankers, another black woman, let’s call her Stacey, to go for it. The business was in good standing and had been for a long time. Her personal credit was in order, there was nothing on paper that would bar her or look suspicious. Before Emma went officially she consulted an accountant to look over the books to see if there was anything that would make the bankers wary. Accountant said everything was fine. That the company made enough money last year, a little over 500k, and was on track to make more than that this year, that it shouldn’t be a problem and that everything would be fine.
In order to get the credit, she has to put up her personal credit, not the business’. Emma’s credit was spotless, except for a Chapter 11 that was filed over 13 years ago and was paid back in full. Emma asked Stacey if this was going to be a problem. Stacey said no, because it’s already come off and in was paid back. It’ll be fine. Plus there are people with way worse histories that she has seen get approved.
Emma goes and sits in front of the white loan officer. He asks her several questions, how long have we been in business, how much money did the business make last year? Standard stuff, he asks if there has ever been any bankruptcy. Emma was honest, and told him the truth. Two days later, the loan officer calls and says she was denied. Emma thinks it’s strange. Stacey thinks it’s strange, she just saw a white business owner in a terrible position relative to us, just get approved for a 100k loan last week. The accountant thinks it’s strange. Emma talks to the loan officer on the phone, and when she questions it he gets EXTREMELY defensive.
We receive the official denial letter signed by the loan officer. The letter states after the bank made an inquiry, via a Experian report there is a recent bankruptcy remaining on the report.
Emma decides to pull the Experian report herself. There has been no formal inquiry made by any party since 2015. And the bankruptcy is not on the report.
This white loan officer denied her resources and lied about it because he could.
This is it. This is what we keep talking about. The casual judgement, bias, and discrimination just because they can. Because how dare the Negress from the foreign country be successful and have things.
And to put in in a slightly bigger perspective, yes this ruins one black woman’s success. But this is specifically denying aid to a company where 15 out of 20 Employees are black women and 8 of those 15 women are immigrants. A company where our lowest paid worker makes $15/hr. A company that, just hired a qualified black immigrant Muslim, social worker from The Gambia (country next to Senegal) after she had been turned away from every other hospice in the city. This shit affects our communities and people.
This is who you are punishing.
This is America.