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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- Headline: Women and Minorities Less Likely to Get Small Business Administration Loans
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