Posted on July 16, 2018 by Lauren Oto
Access to capital is one of the greatest barriers faced by minority business owners, and one of the largest reasons they fail to grow.
Minority-owned businesses are found to pay higher interest rates on loans. They are also more likely to be denied credit, and are less likely to apply for loans because they fear their applications will be denied. Further, minority-owned firms are found to have less than half the average amount of recent equity investments and loans than non-minority firms even among firms with $500,000 or more in annual gross receipts, and also invest substantially less capital at startup and in the first few years of existence than non-minority firms.
- Minority Business Development Agency
SEE SOME OF THE DISPARITY IN ACCESS TO CAPITAL IN OUR INFOGRAPHIC ON MINORITY VS NON-MINORITY OWNED BUSINESS LENDING
Hear from leaders Betty Yee, State Controller, Fiona Ma, California Board of Equalization, and more on what their take on this challenge is and what can be done September 6 at our Minority Women’s Business Conference.
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Posted on August 7, 2017 by Lauren Oto
Over 25 agencies and organizations came together on Monday, July 31st, to attend the USDA’s Veteran Farmers Outreach event in Elk Grove. This event was designed to provide Veteran farmers with the information about all the resources available to help them establish and grow their farming business.
Featured speakers included David Castaneda from the Small Business Administration, Martin Carrillo from the Farmer Veteran Coalition and Matthew Ceccato from the Office of Congressman Ami Bera. Mr. Castaneda talked to attendees about the SBA’s free programs, like classes, individual business consulting meetings and assistance with securing federal loans for business expansion. Ms. Emily Schmidt from (VFC) and Mr. Ceccato reassured their commitment to aid veterans in the agriculture industry with their programs, fellowships and resources. Lastly, Mr. Carrillo, a Sacramento County Farmer, shared his experience of growing his business with the federal programs accessible to him.
The speakers also emphasized an uplifting, key theme throughout the event: Veterans have the best qualities to become farmers, as they are resilient, hardworking and unwavering. After the talks, CalAsian Chamber of Commerce connected with the other organizations that assist veterans, their families and their businesses. Overall, it was a meaningful occasion to be part of.