Good morning. I’m Rachel Schnalzer, the L.A. Times Business section’s audience engagement editor, with our weekly newsletter about how you and your bank account can weather this tumultuous time and prepare for whatever the economy might look like on the other side.Tips for how you and your finances can get through the pandemic.It’s hard to get a small business off the ground. You need money to get started, to expand and to weather tough times.
My colleague Samantha Masunaga covered this topic in her latest article, and she’s taking over the rest of this newsletter’s introduction section to explain howThe wealth gap between typical Black and white households is a major factor in the inequity. But research is showing that even in households with similar financial resources, home equity does not translate equally into start-up capital for Black and white homeowners.
“Most small African American, or even any business of color, basically has to leverage everything they have in order to believe in themselves to be able to say I am going into business,” said Delores Brown, director of loans at Vermont Slauson Economic Development Corp.
Economists and advocates have also suggested variations of slavery reparations, which could be used for capital investment in businesses.The following steps don’t get rid of the systemic problems, but they might help make the playing field a bit less uneven.Brown suggests making sure you have all the documentation you’ll need to include in your loan application. Also, she said, learn all of the bank’s underwriting criteria so you can walk in with confidence.
“Knowledge is power,” Brown said. “You’re telling a story with your financials and understanding how to tell the story of success with your paperwork.”Your support helps us deliver the news that matters most.under an order issued by Gov. Gavin Newsom. Phil Willon, Hannah Fry and Luke Money
Source: Loan News Today (loannewstoday.net)
U r pathetic! 4white business owners its easy now coz they r white?!
And the subject of our Daily Racism today is.... *spins the wheel* FINANCING!
No it isnt
No it’s not. Stop. Just stop. You people make them subpar and they believe you. It isn’t the rest of us. Like the banker, the supplier, the customer. It’s YOU
Continuing the long list of blatantly racist tweets. How about “ALL businesses face huge hurdles after this fascist and baseless shutdown?”
Stop reducing people to colors, you globalist shills.
How does anyone know it's a 'black business' before walking in? I feel this is fabricated.
Doesn’t and shouldn’t
Я переживаю
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