We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Access to Debt Capital for Women- and Minority-Owned Small Firms: Does Educational Attainment Have an Impact?
- Authors
Coleman, Susan
- Abstract
Due to their inability to access public debt and equity markets, small firms are heavily dependent on loans as a financing source. Prior research reveals that women and minority borrowers experience greater difficulty securing loans than white male borrowers. Previous research has also revealed a link between the educational level of the owner and firm survival and profitability. This article examines the relationship between educational attainment and the firm's willingness and ability to secure loans with particular attention to the borrowing experience of women and minority borrowers. Results reveal that, even controlling for differences in educational level, black men were significantly less likely to be approved for their most recent loan request. Further, black men were significantly less likely to apply for loans because they assumed they would be denied.
- Subjects
CAPITAL; DEBT; LOANS; MINORITY business enterprises; BUSINESS; BUSINESS enterprises
- Publication
Journal of Developmental Entrepreneurship, 2004, Vol 9, Issue 2, p127
- ISSN
1084-9467
- Publication type
Article