NerdWallet, January 8, 2021, Racial Funding Gap Shows Black Business Owners Are Shut Out From Accessing Capital
Data breakdown on the racial funding gap: BIPOC business owners are at a disadvantage when it comes to financing.
A
study by the National Community Reinvestment Coalition
found that bank representatives at 32 bank branches in Washington, D.C. treated white and Black (as well as male and female) business owners who came in seeking a Paycheck Protection Program loan differently. The study recorded differences in levels of encouragement, a difference in the products offered and a difference in the amount of information provided. White males received the most information about the program
, on average, while Black women received by far the least.
