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Sep 10, 2025  |  
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 | Remer,MN
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Craig Bannister


NextImg:85% of Minority-Owned Businesses Say High Interest Rates Are Restricting Their Access to Capital

Small businesses – especially those owned by minorities – are being hurt by today’s level of interest rates, results of a new survey of employers conducted by John McLaughlin and Scott Rasmussen reveal.

The national survey of small businesses, conducted August 1-20 for the Job Creators Network Foundation, asked the following question:

“How difficult is it for your business to access capital in this interest rate environment?”

More than two-thirds (69%) of small businesses report that it’s difficult to access capital in the current interest rate environment, three times more than the 23% who say it isn’t. Another 8% aren’t sure.

Fully 85% of minority-owned businesses are having trouble accessing capital with today’s interest rates, as are 75% of female-owned establishments. Just 18% of minority and 13% of female small business owners say it’s not difficult to access capital.

The smallest small businesses, as measured by revenue, are the most vulnerable to the current level of interest rates. Here, 77% of those with less than $100,000 annual revenue say it’s difficult to access capital with today’s rates, compared to 60% of those taking in at least $1 million yearly.

When small business owners were asked if they “support or oppose the Federal Reserve cutting interest rates at its next meeting to lower credit costs and increase access to cheaper loans,” three-fourths said they want the Fed to lower rates at its September meeting:

  • 74% support an interest rate cut.
  • 16% oppose a cut.
  • 9% are unsure.

Small business owners’ view of what the Fed should do at its next meeting appears unaffected by the annual revenue of their operations. And, while the results for minority businesses mirror those of all small businesses, female-owned businesses (81%) are more likely to support lower interest rates.

Until now, Fed Chairman Jerome Powell has steadfastly rejected President Donald Trump’s demands for lower interest rates, but recent economic news appears to have increased the prospects of a rate cut in the near future.