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Published in:
2015 | OriginalPaper | Chapter
Black Entrepreneurs and Use of SBA Loans for Business Start-Ups: A Field Study
Authors : Vicki L. Bolden, Winston Awadzi
Published in: Minority Marketing: Issues and Prospects
Publisher: Springer International Publishing
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This study presents the results of a field study on the sources of financing used by black entrepreneurs to finance their business startups. The results of the study indicate that most entrepreneurs do not use the loan services of the SBA. Specifically, only three (14 percent) of the twenty-two black entrepreneurs interviewed for this study used the Small Business Administration (SBA) as a means of financing their business start-ups. The findings also indicate that the non-use derives partly from the cumbersomeness of the SBA’s loan procedure.