Title: Black-Owned Public Companies
Headings: Black-Owned Public Companies
Black-Owned Public Companies
Companies that went public and how they're doing
Public vs. Private
Key Takeaways
What Makes a Business Black-Owned?
Particular Challenges Facing Black-Owned Businesses
Capital
Connections
Cash Flow
Publicly Traded Black-Owned Businesses
RLJ Lodging Trust
Urban One
Ping Identity Holding
Global Blood Therapeutics
Carver Bancorp
Broadway Financial Corp.
Axsome Therapeutics
American Shared Hospital Services
The Bottom Line
Directories of Black-Owned Businesses
Article Sources

Content: But getting access to loans isn't easy. In 2017, banks were twice as likely to provide business loans to White entrepreneurs than their Black counterparts. Conversely, they were also three times as likely to follow up with White applicants than with more qualified Black business owners. 19 ﻿ In 2014, 28.4% of Black entrepreneurs found that their profits were negatively impacted by their access to capital, while 22.6% were themselves negatively impacted by the actual cost of capital. 20 ﻿
As reported by The Business Journals, since peaking prior to the 2008 financial crisis, the annual number of loans to Black-owned businesses through the U.S. Small Business Administration's 7 (a) program decreased by 84%, compared to a 53% decline in 7 (a) loans awarded overall. The report found an overall trend of significantly less lending to businesses in Black-majority neighborhoods, compared to White-majority ones. Orv Kimbrough, CEO of Midwest BankCentre, referred to this issue as "corporate redlining." 21 ﻿
Connections
Black business owners have less access to the types of mentor and peer networks that can help grow a business—and they are less likely to have family connections that can help. In a 2017 survey conducted by Prosperity Now, 23.3% of White firm owners gained prior work experience as part of a family member’s business, compared to 12.6% of Black entrepreneurs. 22 ﻿
Cash Flow
Black firms are more frequently found in industries with a lower earning potential, including beauty salons, childcare, home healthcare services, janitorial services, and barbershops.