Report: Minority-owned businesses have trouble getting loans

Photo Credit: MGN Online

SPRINGFIELD, Mass. (WWLP) – Minority-owned businesses have a harder time getting loans than small companies in general. According to a new report, most business owners don’t struggle to get credit, but it also shows disparities in the borrowing experiences of minorities and small businesses in general.

22News talked to State Representative Carlos Gonzalez about how he thinks things could change. “I think technical assistance, training, education on how to start a small business and how to manage a small business is essential to continuing the efforts of the Mass. Latino Chamber of Commerce has been doing to continue to create small businesses.”

Representative Gonzalez also said that we need to recognize small businesses create jobs for america and we need to support them in every way possible.

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