Funding for Minority-Owned Businesses
The number of minority business enterprises (MBEs) in the United States increased 39 percent from 2007 to 2012 and continues to rise. Minority-owned businesses are also twice as likely to export and three times as likely to have international operations as are non-minority-owned enterprises and are leading exporters in 14 key industry sectors.
At the same time, minority-owned businesses are more likely to be rejected for a loan, receive smaller loans, and pay higher borrowing costs than their nonminority counterparts. In keeping with these disparities, minority entrepreneurs are also less likely than their ...
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