How Can Black Business Owners Close The Credit Gap?
3,199 views · Published 19 November 2016 · 5:27 · Indexed 4 November 2026
Channel: Roland S. Martin · 2016 · News & Politics
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
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