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How Can Black Business Owners Close The Credit Gap?
Uploaded by mufasa101 on February 2, 2017 at 3:56 am
How Can Black Business Owners Close The Credit Gap?
Black-owned businesses are suffering because of a lack of access to credit.
According to the 2014 U.S. Census Bureau’s first Annual Survey of Entrepreneurs, Black business owners are three times as likely as Whites to say they need financing, but choose not to apply for it.
Fifty nine percent of Black business owners say they don’t apply for loans out of the fear of not being approved. The fear is justified. Only 47 percent of Black business owners get the full amount they requested versus 76 percent of Whites.
Ron Busby, President and CEO of the U.S. Black Chambers, and Michael Grant, President of the National Bankers Association, joined Roland Martin on NewsOne Now to discuss the Black business credit gap and what can be done to close it.
Want more Roland Martin? Watch NewsOne Now every weekday morning starting at 7AM ET on TV One.
Listen to The Roland Martin Show weekdays on the TuneIn Radio app 10AM ET - 1PM ET: http://bit.ly/29Pt1IS
Follow Roland Martin on the following social media platforms:
Facebook: http://bit.ly/2dgI2GO
Twitter: http://bit.ly/2dgFOra
Instagram: http://bit.ly/2d48Acu
For more info about Roland visit http://www.rolandsmartin.com
Black-owned businesses are suffering because of a lack of access to credit.
According to the 2014 U.S. Census Bureau’s first Annual Survey of Entrepreneurs, Black business owners are three times as likely as Whites to say they need financing, but choose not to apply for it.
Fifty nine percent of Black business owners say they don’t apply for loans out of the fear of not being approved. The fear is justified. Only 47 percent of Black business owners get the full amount they requested versus 76 percent of Whites.
Ron Busby, President and CEO of the U.S. Black Chambers, and Michael Grant, President of the National Bankers Association, joined Roland Martin on NewsOne Now to discuss the Black business credit gap and what can be done to close it.
Want more Roland Martin? Watch NewsOne Now every weekday morning starting at 7AM ET on TV One.
Listen to The Roland Martin Show weekdays on the TuneIn Radio app 10AM ET – 1PM ET: http://bit.ly/29Pt1IS
Follow Roland Martin on the following social media platforms:
Facebook: http://bit.ly/2dgI2GO
Twitter: http://bit.ly/2dgFOra
Instagram: http://bit.ly/2d48Acu
For more info about Roland visit http://www.rolandsmartin.com
by the way I am a young Millennial living in suburb White America and it is hard to promote black businesses when we are surrounded by the oppression. I work for free at a radio station called wche 1520 a.m. in West Chester Pennsylvania me and my co-workers talk about these things all the time please check this out on podcast it twisted
I just came back from the state of the black World Summit in Newark New Jersey and they talk about these exact things. I am very grateful to have people like you to empower blacks and people of color all around the world
I refuse to get a loan. they discriminate us for trying to get out of the whole.. http://www.gofundme.com/76-food-truck. check me out please. I am black and puerto rican and trying to work hard to support my family.
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by the way I am a young Millennial living in suburb White America and it is hard to promote black businesses when we are surrounded by the oppression. I work for free at a radio station called wche 1520 a.m. in West Chester Pennsylvania me and my co-workers talk about these things all the time please check this out on podcast it twisted
I just came back from the state of the black World Summit in Newark New Jersey and they talk about these exact things. I am very grateful to have people like you to empower blacks and people of color all around the world
I refuse to get a loan. they discriminate us for trying to get out of the whole.. http://www.gofundme.com/76-food-truck. check me out please. I am black and puerto rican and trying to work hard to support my family.
Great show and proud to be banking at a Black Bank.
Thank you Roland for bringing this to light.. Sharing.
check out the Facebook group, 'Black Owned Business Portal.' Over 200,000 members of all Black owned Businesses…
thx ROLAND THIS IS LIFE CHANGING