One of the
interesting things I didn’t get to touch on in the January article “Tough times for the loan ranger” was the
decline in small business administration loans to women and minorities between
2008 and 2009.
the fact that Small Business Administration loans dropped only 1.4 percent,
for women went from about $65 million to about $51 million. For minorities the decline
was even more significant: $77 million to down to $36 million.
which was one of the few counties with a fairly significant increase in SBA
loans between the two years made 11 SBA loans to women in 2008 and 7 in 2009; 7
to minority applications in 2008 and 2 in 2009.
SBA loans to women went from 19 to 11; for minorities it stayed the same at
just one loan each year (although the loan amount increased in 2009). Brown
County showed 19 for women in 2008 and 16 in 2009; for minorities, the number
went from 10 loans to just 2.
Which raises the
questions: Are fewer women and minority entrepreneurs seeking small business
loans in a tough economy than other applicants, and if so, why?
Or is there something
else going on?
– Nikki Kallio