Minority Businesses Struggling With Credit According to Experian Report

Minority businesses still struggle with credit in a way other small businesses do not, a report from global business analytics firm Experian says.

According to Experian, minority-owned businesses see an average business credit score of 49.7, five points lower than other U.S. companies.

Meanwhile, minority small business owners struggle with an average consumer credit score of 707, a full 15 points lower than the consumer credit score of other U.S. small business owners.

“Given that minority-owned small businesses make up such a small percentage of the general small-business population, approximately 21 percent, industry professionals, and regulators are becoming more interested in helping this segment grow and succeed,” said Pete Bolin, director of consulting and analytics for Experian in an official release.

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