“Want to improve your relationship with your banker? The answer’s easy: just move your business to a nicer part of town. Unfortunately, that’s the very real problem faced by many small businesses around the country who are located in lower-income or minority areas. “
“This conclusion was reached in a recent study by the Woodstock Institute, a not-for-profit research and policy organization that specializes in fair lending, wealth creation and financial systems reform. Researchers there studied small businesses in lower-income areas and communities of color in various parts of Illinois and compared them to their counterparts in higher-income and predominantly white areas.”