Financing Patterns of Minority-Owned Small Business
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The Department of Management and Entrepreneurship seeks to provide students with the knowledge of organizations and management functions within organizations. Graduates will be able to understand work-related behavior, competitive strategy and advantage, strategies of international business, and human-resource management practices.
History
The Department of Management was formed in 1984 in the College of Business Administration (later College of Business).
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1984 - present
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- College of Business (parent college)
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Abstract
This study examines the initial, seasonal, and refinancing characteristics of 67 minority business owners. The results are compared to the financial characteristics of women-owned and mixed ownership small firms. Minority-owned firms are found to rely primarily on equity to finance initial operations. Minority business owners' initial debt was commonly obtained through Small Business Administration (SBA)guaranteed loans and government grants. A very large percent of the minority business owners who acquired debt were required to provide numerous supporting documents. The results indicate that minority firms that experienced difficulty in obtaining initial capital continue to experience financial problems relating to operations.
Comments
This article is from Journal of Small Business Strategy 5 (1994): 31.