Elizabeth Warren is proposing a Small Business Equity Fund to help entrepreneurs of color
this weekend. “Middle-class families and people of color who have been shut out of their chance to build wealth for generations. Again, that requires real, structural change.”
The Equity Fund’s $7 billion in funding would come in the form of grants to entrepreneurs, not loans or loan guarantees that could leave new businesses at risk of defaulting on a loan. As Warren notes in herexplaining the policy, the typical black entrepreneur starts a business with $35,000 in capital, a third of what her or his white counterpart usually has. Nonwhite small business owners usually have less collateral to establish credit lines and secure bank loans, as well.
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