(PM.) On Monday, Democratic presidential candidate Kamala Harris unveiled her “Opportunity Agenda” for black men, which includes a plan to give out one million forgivable loans to black entrepreneurs.
Harris campaign co-chair Cedric Richmond said in a statement, “This agenda is a further realization of Vice President Harris‘ Opportunity Economy. An economy where people don’t just get by, but get ahead. Where black men are equipped with the tools to thrive: to buy a home, provide for our families, start a business and build wealth,” CNBCreported.
The plan would give out 1 million loans of up to $20,000 that are fully forgivable to black entrepreneurs and others to start businesses. The loans would be financed through partnerships with “mission-driven lenders,” community banks, and the Small Business Administration.
The announcement comes in the final stretch of the 2024 presidential cycle, with the aim of Harris increasing her support among black male voters.
The plan also includes mentorship programs and training to help black men get jobs in high-demand industries, as well as additional investments in the Public Service Loan Forgiveness (PSFL) program to help recruit and retain black male teachers. The PSFL forgives student loan debts after 10 years for borrowers who work in certain nonprofit or government jobs.
