ALANA (African, Latino, Asian and Native American) community leaders commend Governor Dayton for small business lending initiative to improve capital access and call for attention to the liquidity crisis in ALANA communities.
ALANA community leaders commended Governor Dayton for the launch of the $100 million Small Business/Banking Partnership. They viewed the initiative as an important step towards addressing the major challenges facing ALANA entrepreneurs.
At the same time they recognized that unless banks change their lending behavior towards ALANA entrepreneurs nothing much will change in the experience of poor capital access by these entrepreneurs. The community leaders were concerned at recent statements that "liquidity" is not the major issue of entrepreneurs when it has been well documented, especially in the recent disparity studies at the state and city levels, that ALANA entrepreneurs face significant barriers in their access to capital.