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Day two of David Pecker testimony wraps in NY Trump trial; Supreme Court hears arguments on Idaho's near-total abortion ban; ND sees a flurry of campaigning among Native candidates; and NH lags behind other states in restricting firearms at polling sites.

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The Senate moves forward with a foreign aid package. A North Carolina judge overturns an aged law penalizing released felons. And child protection groups call a Texas immigration policy traumatic for kids.

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Wyoming needs more educators who can teach kids trade skills, a proposal to open 40-thousand acres of an Ohio forest to fracking has environmental advocates alarmed and rural communities lure bicyclists with state-of-the-art bike trail systems.

Room for Improvement in Support of NC Minority-Owned Businesses

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Thursday, August 24, 2017   

RALEIGH, N.C. – There are more than 180,000 minority-owned businesses in North Carolina, but growing and sustaining this business isn't easy. This long-held claim by business owners is confirmed in a new report by the North Carolina Budget and Tax Center.

Policy analyst for the North Carolina Justice Center, William Munn says on average, even when they do qualify for a loan, minority-owned businesses receive half of the funds their white counterparts receive.

"It's really hard for minority businesses to secure loans and when they do secure loans, they're for lesser amounts and then, for higher interest rates," he explains. "Minority businesses have less capital from which to pull from."

According to a University of Michigan study, among businesses with annual sales over $500,000, 41-percent of the minority-owned companies received loans, compared to 52 percent of white-owned businesses. The report recommends more outreach to minority business owners to ensure they're aware of the resources available and creating a state fund for small-business lending.

For almost 20 years, North Carolina has operated a Historically Underutilized Business or "HUB" program, but the rate of participation varies by county - ranging from only one to three percent. Munn says it's hard to ensure that minority-owned businesses engage in the process.

"We found that there's a very healthy base throughout the state, and they just don't know or aren't really seeing the return on investment," he adds. "They don't see it worth their time to be engaged."

Once businesses are certified as HUB vendors, they're offered greater exposure to opportunities such as state contracts. The report also recommends simplifying the certification process.


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