Page 27 - SYF Hispanic Playbook_WorkingDraft (1)

Hispanic businesses are also 2.5 times as likely as White-owned businesses to depend
on informal sources of funding, and thus tend to be smaller and again, at higher risk
during the pandemic.***

 Only 50% of Hispanic-owned businesses had enough cash to cover 2 months’
worth of expenses (vs 7% of businesses owned by White men).

*McKinsey Report: “US Hispanic and Latino lives and livelihoods in the recovery from COVID-19”. September 2020.
**Suzanne Gamboa, “Few Hispanic business owners got coronavirus relief loans, Latino survey finds,” NBC News, April 24, 2020,
nbcnews.com.
***McKinsey & Company SMB Survey, May 8–13, 2020

THE PATH TO CONNECTION