Despite being the fastest-growing segment of the U.S. small business ecosystem, Latinos continue to struggle to secure capital from national banks.
That’s according to the State of Latino Entrepreneurship 2020 research study from the Stanford Latino Entrepreneurship Initiative.
Stanford’s report found that only 20 percent of Latino-owned businesses that applied for national bank loans over $100,000 obtained funding, compared to 50 percent of white-owned businesses. When looking at loans of all sizes, the percentages change, but not the gap: among Latinos, 51 percent received loans versus 77 percent for whites. READ MORE AT CBS NEWS