LGBTQ small business owners struggle to find financing

It’s not an easy time to be a small business in search of financing. For LGBTQ owners, the struggle has been even harder.

LGBTQ-owned businesses reported more rejections than non-LGBTQ businesses that applied for funding, according to a 2022 report from Movement Advancement Project, a nonprofit think tank that focuses on equality and opportunity, and the Center for LGBTQ Economic Advancement & Research (CLEAR).

With the tightening of lending standards, they could be at even more risk of falling behind, said Spencer Watson, president and executive director of CLEAR.

“The tighter economic conditions, the higher interest rates, the collapse of these smaller…