Latino Entrepreneurs Face and Can Overcome Funding Obstacles
A new report details the barriers to loan approval for Latino-owned businesses and points to ways to break them down.
January 29, 2021
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Latino entrepreneurs like Jonathan Garcia, CEO, Simmitri Solar are significantly less likely to have their business loans approved by national banks.| Nathan Bietz
Recent research by the Stanford Latino Entrepreneurship Initiative offers detailed insights into the difficulty Latino entrepreneurs often have finding funding for their businesses and points to some ways these entrepreneurs may be able to improve their odds of success.
The 2020 State of Latino Entrepreneurship report found that Latino-owned businesses are significantly less likely than similar White-owned businesses to have loans approved by national banks. The report is based on a survey of “employer” businesses that have at least one paid employee other than the owner.