At the current rate, it would take centuries (256 years, to be exact) to bridge the gap between the Black population and Black business ownership. This imbalance highlights a system riddled with barriers that widen racial wealth divides.
Despite being just as likely (and in some cases, even more likely) to apply for loans, startups founded by people of color face significantly lower approval rates from banks and lenders than white-owned businesses, according to the Federal Reserve.
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