SimpleGrowth is a Lifeline for Chicago Entrepreneurs Struggling to Get Loans
Abstract
Minority entrepreneurship is blossoming in Cook County, but the support systems that normally accompany business growth -- like loans -- haven’t followed. As of 2014, Cook County was home to 110,155 registered African-American businesses, which was the most of any county in the United States, and the number of minority- owned businesses in the county grew by 30 percent from 2007 to 2012. Yet, Chicago’s minority entrepreneurs struggle to access the capital they need to grow their businesses. In fact, according to the People for Change Coalition, African-American businesses received just 2.3 percent of Small Business Administration loans in 2013, down from 11 percent in 2008.
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Copyright (c) 2018 Geraldine Sanchez Aglipay (Author)
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