re: Access to Capital Hurdles That Minority Entrepreneurs Face

January 02, 2024
by a lender from Montclair State University - School of Business in Odenton, MD, USA
I've been in the commercial lending industry for over a decade, and I have seen first-hand the hurdles that minority business owners face when it comes to getting access to capital. We are often overlooked, and we don't receive the same level of attention as other races get.
Gaining access to capital as a minority is still a challenge. Often, when I work with minorities, I am told the following. "The lender never called me back, I submitted everything they asked for." Or "I was declined, and the lender didn't tell me why."
By the time. the borrower gets to me. they feel defeated because they were overlooked.
I feel privileged that I am able to be an anchor and advocate for minority entrepreneurs in the SBA space. As I look to expand my network to partner with searchers, I am glad to see people of color in this space. This is very encouraging to see, and it gives me hope.
If you are a minority searcher and if you feel you have been overlooked, reach out to me. I would love to become a part of your advisory team.
from Stanford University in Honolulu, HI, USA
from Indiana State University in Chicago, IL, USA