Now that many sources of emergency funding designed to help businesses during the pandemic have ended, some platforms are shifting focus toward the entrepreneurs who've been hit the hardest.
Robert W. Fairlie, an economics professor at the University of California at Santa Cruz who studied the effects of COVID-19 on small businesses, found that in the early months of the pandemic, the number of Black business owners dropped by 41%, the number of Latinx owners fell by 32%, and the number of Asian owners dropped by 26%, compared with a drop of 17% in the number of white business owners.
Underrepresented business owners said they struggled the most to access credit during the pandemic, a Federal Reserve survey found. And although venture capital funding hit a record high last year, it's dwindling this year as experts predict the US economy is headed toward a recession.
Here's a list of capital available to minority small-business owners and underrepresented founders. We've also included some funding opportunities that aren't specific to underrepresented founders, but may still be relevant to their businesses. We will add to this list as more funds become available.
If you know of a funding opportunity that fits this list, please email this reporter at jortakales@insider.com.