Women and Minorities Less Likely to Get Small Business Administration Loans

Women and Minorities Less Likely to Get Small Business Administration Loans

Access to capital is the lifeblood of many small businesses. As of 2017, the Small Business Administration (SBA) has distributed $ 658.8 million in SBA 7 (A) loans in Arkansas, little of which goes to women and minorities.

According to a study by the Winthrop Rockefeller Foundation and Winrock International, most of the loans went to white and male-owned businesses, and nearly 77% of the loans went to white-owned businesses. Only 8% went to businesses owned mainly by women.

At least $ 505 million (76.6%) was loaned to whites, while Asian and Pacific Island homeowners received $ 122 million (18.6%). Native American owners received $ 11.2 million (1.7%), Hispanic owners received $ 10.3 million (1.6%) while black people received $ 9.9 million (1, 5%), the study …

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