2006: According to Federal Reserve, bank loan applications of African-Americans and Hispanics owned businesses are rejected at twice the rate of white owned businesses.
College Text Book Page 163 Boone and Kurtz "Contemporary Business".
With That being said, whats your Idea. With hispanics having the highest growing rate in the US.. right now. You would think they would know how to cater to their own people but not being able to start a business..
If you had the start up money what woudl you do?
2007-11-09 09:04:58 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Like with any loan, if you want a business loan, you have to demonstrate to the lender that there's a good chance you will pay the debt. This means having a sound business plan in addition to other things like good personal credit, previous experience in the business, etc. You don't get a loan just because you're of a politically correct ethnicity.. Or shouldn't, anyway. A contributing factor to the whole subprime mortgage mess going on now is that there was a whole lot of whining about minorities not being approved for mortgages, so to get the do-gooders off their backs, the banks relaxed their standards and gave loans to people who had no business being approved for a mortgage.
2007-11-09 09:18:36 · answer #1 · answered by curtisports2 7 · 1⤊ 0⤋
it's not about gender race or whatever, it's the credit score.
sadly most of them they have lower credit score than most white americans
and also their income too
2007-11-09 09:12:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋