By Victor Omondi

In America, your skin color determines the privileges you get, including getting loans from banks. You may just be having a good credit score, but still, miss a loan simply because your skin is dark. That’s exactly what’s happening in America at the moment. Even with a credit score as high as 760, black business owners can’t qualify for loans with any bank. If this isn’t pure racism in broad daylight, then what can we call it?

Many black business owners are already feeling the pinch, and they’re wondering banks are denying them loans despite having good credit scores. Based on the most recent data available from the U.S. Federal Reserve, Black business owners are denied loans by banks more frequently than any other racial group, St. Louis Public Radio reported.

Ocasio-Cortez stockpiling campaign cash after first year in Congress

Among business owners who’ve been denied loans is a St. Louis-based couple, Freddie Lee James Jr. and his wife Deborah. The couple says that they’re receiving no loan from the bank despite bringing in an annual profit of about $200000.

“We have 750-760 credit score. … We pay all our debts. We have no problems with that. But they were saying that the sauce business is not generating enough capital to their standards,” said James.

Source: Black Business Owners Denied Business Loans Despite Having Excellent Credit