Many black-owned small businesses are having trouble accessing the government's emergency Paycheck Protection Program loans, despite a fresh round of CARES Act funding that includes $60 billion in set-asides for minority and other underserved borrowers.

The coronavirus loan program, executed by the Small Business Administration, offers up to $10 million in loans per customer that can turn into grants that don't have to be repaid if certain rules are followed, such as using most of it for payroll, plus rent and utilities.

The program has been marred by administrative glitches and controversies since its hasty midnight launch on April 2. Funds effectively ran out in minutes as well-resourced companies — with the help of their bankers — muscled their way to the front, while mom-and-pop businesses were left wondering whether they even had a place in line.

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