TSR Investigates
Jeff Henderson went from earning $35,000 a week as a drug dealer to serving ten years in federal prison. Today, he’s a celebrity chef.
However, his path to getting there was not without its hurdles. As a formerly incarcerated person, Henderson faced challenges securing the business loans he needed to launch his business.
Now, Vice President Kamala Harris is speaking exclusively with The Shade Room’s Justin Carter and sharing how she plans to eliminate that hurdle for ‘TSR Investigates.’
On Saturday, January 27, The Shade Room accompanied VP Harris as she traveled from Los Angeles, California, to Las Vegas, Nevada, for a major announcement.
“What we are doing is ensuring that the millions of Americans who have served time or have a criminal record will soon be able to receive small business loans,” VP Harris explained during a breaking news broadcast.
According to Carter, the federal government allocates $40 billion of small business administration loans annually. However, the hefty sum has been historically more challenging for formerly incarcerated individuals to get their hands on.
Additionally, VP Harris believes the challenge has dramatically impacted one particular demographic.
“We have overly incarcerated specific communities and particularly the Black community and the Brown community… for offenses that were non-violent, and for years incarcerated [them],” the vice president told Carter.
According to Carter, the unemployment rate for formerly incarcerated individuals sits at 27%. Additionally, those who are currently incarcerated, have been convicted of a felony in the past five years, or are now on probation for a misdemeanor or felony are just some of the groups of people barred from being a small business loan recipient.
VP Harris opened up about her plans with Carter during the Las Vegas visit.
“[Anyone who checks those boxes…] could not quality for these loans. So today, I announced we’re getting rid of that and making sure that now millions of Americans who have a criminal conviction or have served time will not be prevented from applying for and receiving a small business loan just because they were convicted or have a criminal record,” she explained.
Scroll above to watch as the vice president delves more into her upcoming efforts and Chef Henderson opens up to Carter about the challenges for formerly incarcerated individuals.
