Published by : U.S. Federal Reserve Banks The COVID-19 pandemic has deeply impacted communities of color and small businesses of color, in many cases to a greater extent than their white counterparts. Prior to the pandemic, small businesses owned by people of color, in aggregate, faced greater challenges than white-owned firms. The 2020 Small Business Credit Survey (SBCS) provides evidence that...

Published by : Minority Business Development Agency Capital access remains the most important factor limiting the establishment, expansion and growth of minority-owned businesses. The report provides an in-depth review and analysis of the barriers to capital access experienced by minority entrepreneurs, and the consequences that limited financial sources are placing on expanding minority-owned...