Insights into the world of small business lending and development
NYC Small Business Owners Have a New Money Matchmaker
Immigrants launch 1 out of 4 businesses in the United States. Black women are the fastest-growing group of entrepreneurs in the country. In spite of that, minority-owned businesses are more likely to be denied a small business loan, and they receive smaller business loans and pay higher interest on the loans they do get.Sure, online small business lenders are growing in number and scale, but only 46 percent of those who got a loan from an online small business lender last year reported being satisfied with the experience, according to the Federal Reserve’s annual small business credit survey.