The reality of the lending gap for minority-owned businesses cannot be ignored. Disturbingly, it has been observed that minority firms with gross receipts under $500,000 face loan denial rates three times higher than their non-minority counterparts. At Lendio Miami, we recognize this disparity and are determined to make a difference.
Fortunately, new advancements in fintech lending and automation are changing things. These technologies can help level the playing field by removing inherent biases that often come with manual reviews. This is great news for minority small business owners, as it can help clear the path to access small business funding.
At Lendio Miami, we are fully committed to closing this lending gap. We have developed an i
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