San Bernardino: Inland Empire Small Business Development Forum We had a full house at the Inland Empire Small Business Development Forum in San Bernardino on Wednesday, July 19, 2017. Over 80 bankers and staff from chambers of commerce, nonprofits, and government agencies met to consider how to improve small business development in the region. We’re…Details
MicroEnterprise Collaborative of Inland Southern California helps minority-owned businesses, which comprise one-quarter of all small businesses.
At least 25 percent of minority-owned businesses plan to apply for credit for their businesses in the next year.
According to Gallup’s Small Business Diverse Segments Lending Study – Asian, African American, and Hispanic Business Owners Study, sponsored by Wells Fargo Bank, Asian, Hispanic, and African-American business owners start out self-funding their businesses or borrowing from friends, family, and other business owners. However, Hispanic and African-American business owners report a lack of confidence in their ability to obtain credit due to their credit rating/history and tight lending requirements.
Microenterprise development and microlending providers can change that, and MicroEnterprise Collaborative of Inland Southern California is proud to be part of that effort.
For more information, please read or download the Gallup study.