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Economic Justice Fund
Who We Serve

Entrepreneurs of Color

Entrepreneurs of Color

Bridging the racial wealth gap

According to the Federal Reserve Bank, minorities in the U.S. make up 39 percent of the nation’s population but own only 19 percent of its small businesses.01

One of the major systemic barriers entrepreneurs of color face is the vast wealth gap separating whites and people of color. This is significant because nearly two-thirds of all entrepreneurs rely on personal and family wealth to finance their businesses02, and so a lack of assets may prevent entrepreneurs of color from investing in their enterprises or qualifying for loans.

The Economic Justice Fund believes that all entrepreneurs deserve equal access to capital, and we are committed to helping entrepreneurs of color start and grow their businesses. Learn about the services we provide.

2%

The median black family owns 2% of the wealth of the median white family.03

4%

The median Latino family owns 4% of the wealth of the median white family.03

  1. Mind the Gap: How Do Credit Market Experiences and Borrowing Patterns Differ for Minority-Owned Firms? Community and Economic Development Department, Federal Reserve Bank of Atlanta; September 2018.
  2. Access to Capital for Entrepreneurs: Removing Barriers, Ewing Marion Kauffman Foundation, April 2019.
  3. Source for both statistics: Dreams Deferred: How Enriching the 1% Widens the Racial Wealth Divide, Institute for Policy Studies, inequality.org.