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Black-Owned Business Loan Fund seen as potential tool for economic growth | Business

Mount Equity Group Tokyo, Japan > News > Business > Black-Owned Business Loan Fund seen as potential tool for economic growth | Business

ANDERSON — In her real estate business, Wendi Carter-Hopkins sees many houses that could use some extra care. So this year, she started her own power washing business.

“Being a Realtor and seeing all the houses with moss and stuff growing on them, it gave me the idea,” Carter-Hopkins said.

She started Carter Power Washing and Services with her son, Ramon Buckley, in April. But the lingering coronavirus pandemic made it more difficult to connect with potential investors in person.

“I went through bank financing, but with it being a new venture, they sometimes don’t want to take the risk,” she said.

Carter-Hopkins has many peers who share similar experiences. Data made public by the Federal Reserve and analyzed this year by Nerdwallet shows that Black business owners secure less funding…

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