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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