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Melissa Shin Calls have grown in recent months for banks to consider how systemic racism affects their customer service and lending practices. A survey of 342 Black entrepreneurs released in May found that anti-Black systemic racism, particularly at banks, creates widespread barriers. The survey, commissioned by the African Canadian Senate Group and Senator Colin Deacon, revealed that only 19% of Black entrepreneurs said they trust banks to do what is right for them and their community. That mistrust correlated with a lack of access to loans: almost all survey respondents said they started financing their businesses through personal savings or credit cards, with only 15% using a bank loan.

United statesThomas bernardGirish ganesanDominic cole morganBrent chamberlainLauren demoreWanda thomas bernardNational bankEntrepreneurship loan fundGovernment of canada black entrepreneurship loan fundTd bank groupAfrican canadian senate groupA bankPutnam investmentsNova scotia senator wanda thomas bernardAfrican canadian senate