Financing Patterns and Credit Market Experiences: A Comparison by Race and Ethnicity for U.S. Employer Firms
Alicia Robb, PhD., for Office of Advocacy, U.S. Small Business Administration
First published February 2018
This study examines racial and ethnic differences in financing patterns, access to capital, and credit market experiences among U.S. employer firms. Using data from the U.S. Census Bureau’s 2014 Annual Survey of Entrepreneurs (ASE), this report sheds light on the ongoing financing challenges facing minority entrepreneurs nearly a decade after the financial crisis. In particular, it highlights differences in financing amounts, financing sources, attempted funding relationships, avoidance of financing, and the impact of financing on firm profitability and closure across ethnic and racial demographics. This report was prepared for the Office of Advocacy by Alicia Robb, Ph.D., under contract number SBAHQ-16-M-0175.