Economic Justice Fund Launches COVID-19 Crisis Loans for Sacramento Micro-businesses
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.
The median black family owns 2% of the wealth of the median white family.03
The median Latino family owns 4% of the wealth of the median white family.03